Base on current chart pattern, Noble Group uptrend is still intact if 50D MA support (about $2.00) is strong enough. This 50D MA support is also a uptrend support. Next immediate Resistance at $2.24.
Noble is close to 52 weeks high of $2.24 and thus upside potential may be limited. In additional, current Noble Group’s PE is 14.8 which is at the fair value.
Straits Asia Resources (SAR) has hit the target price of $2.60 after the breakout (see past analysis). SAR is still on up trend but closing in 52 weeks high.
Let see whether SAR can break this $2.74 resistance.
Sorry for not posting for the past few days and my late reply as I am just back from my short holidays in Hong Kong. I bought a very interesting investment book (Traditional Chinese) at Hong Kong International Airport and I like the short notes on the Investing & Trading Rules and Philosophy at the end of each chapter. I am starting to compile those rules & philosophy as and when I find it useful. I will share my compilation with everyone and will put under the Categories “Rules & Philosophy” starting from Dec 1st, 2010. Hope everyone will find it useful.