Noble (technical)

Noble: technicals are murky at the moment, as counter is hovering around a key level at $1.30 (close to the 50day MA). If the stock is unable to close above this level, the technical outlook could continue to remain downbeat. We note that black marubozu candle yday may cast a pall over Noble’s technicals for the next few days. Near term, RSI and MACD also continue to slide to below neutral levels, which bodes negatively for near term momentum. See support at $1.25, resistance at $1.38.