Noble Group: Back to Life?

Noble Group seems to have completed the retracement and found the support at 61.8% Fibonacci Retracement Level.

Bullish Signals

  • Noble Groups moves above 20D, 50D and 200D SMA.
  • 2/5 EMA show bullish up trending signal.
  • MACD is showing bullish signal.
  • If Noble Group clears $1.12 resistance, price target is $1.32 (161.8% FR)

Bearish Signal

  • Noble Group may be forming a Head and Shoulders with neckline at about $1.00 (also the 61.8% FR level). Head and shoulders are a potential reversal pattern.
  • All 3 MAs are not all sloping up and still in consolidation mode.
  • Watch closely whether there is reversal between $1.08 to $1.12 because this may be the formation of right shoulder.

Original post by Marubozu from My Stocks Investing Journey.

2013Dec27-Noble Group

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