Tuesday, July 31, 2012

Noble Grp (technical)

Noble Grp: Technical Sell by UOB Kay Hian with 6.5% potential return and $.00 TP. House note that Prices have rebounded after breaking below the support of S$1.05 and have formed a lower low. The stock could potentially be resisted near $1.095 which is also near its mid Bollinger band. Earlier on its MACD indicator formed a bearish crossover below its centreline and has since trended down. Stops could be placed at above $1.105. House institutional research has a fundamental BUY with TP of $1.46.

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