Home > Noble Grp > Noble Grp change of trend

Noble Grp change of trend

Noble Grp has made a strong indication of trend change with breaking both the trendline and horizontal resistance at $1.67 accompanied by high volume. Now its a good chance to buy on dips. Nearest support is at 1.67 and resistance at 1.75. Taking half at 1.75 is a good choice if several bearish candlestick happens around that region.

As mentioned before, buying low and selling high is only part of the game, managing risk and reward will bring you wealth.

Double bottom projection has failed as pointed out by a friend it is hard to reach back to 1.48 as it is the price China Govt bought into the company.

Lesson learnt is to give the stocks 2 months plus to settle when a new CEO or director is leaving. It just reminds me of several cases that has happened before for example Straits Asia.

Given the earnings will climb/exploded in 2013 (check out from Bloomberg Terminal), I hope to see that Noble will consolidate and slow down its acquisition to improve the earnings as too high a leverage can be also very dangerous.

Do watch out for possible flag formation to for re-entry. It is a pity that given my current working conditions, I can only see some “action” during lunch time. Actually I am quite confused talking to my friend since they have went through the down-turn. Talking about how hard it is to cut-loss while waiting for technical rebound while at the same time saying they are investor.

Seems to me everything is base on feelings which is unlike me. I need a precise entry and exit so as to remove the emotional part in trading or investing. There are several reasons why as it has been explained from my previous post on “Never Lose Money.”

Vested at 1.72

2010Sep-Noble Grp-800x600

Breaking out of trendline

*Disclaimers applies.

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  1. Cyngal
    September 16, 2010 at 8:23 am

    Is it now safe to enter Noble group?? What the best price to buy in and sell out?

    • September 16, 2010 at 6:28 pm

      2 possible entry to buy on pull back. 1.74 and 1.71 as support. It depends on your risk appetite. I don’t think I am qualified to give investment advice though as I’m a speculator. Watch your cut loss point to manage your risk.

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