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.
Straits Asia Resources has been climbing up steadily since the breakout from the Falling Wedge.
The current uptrend is still intact with the uptrend support at $2.20 (which is also a 50D MA support). SAR has moved above 20D MA, 50D MA and 200D MA.
