Noble Group: Still On Down Trend

Noble Group is currently testing previous down trend channel support turned resistance at about $1.45 level. This level is also the 50D MA resistance and 78.6% Fibonacci Resistance. Base on current Noble’s chart pattern, the stock will probably reverse the current rebound and continue the medium down trend unless the 50D MA resistance and the previous high of $1.60 resistance is broken.

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  1. Marubozu

    Noble breaks 50D MA resistance and previous high of $1.60.
    Next to watch whether this 50D can turned from resistance to support to confirm the trend reversal to uptrend.

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