Noble (technical)

Noble: Trading Central notes the stock has posted a bearish gap, and has also validated a "double-top" pattern, a bearish reversal configuration, after the downside penetration of the neckline at $1.265. Notes both the short term and medium term moving avgs are shifting downwards, and the daily RSI has dropped sharply below its 50% neutrality area. Says the widening of the Bollinger banks is an indication of a possible increase in volatility in the coming days. Believes a rebound, if any, would be very limited before further decline to $1.085 and $1.05 in extension.