Noble: CIMB has Technical Sell Call. Note that since breaking below the key support trend line in Jun and then again in July, prices of Noble have been easing since. The break below this line was a bearish signal.
Its MACD has now reconfirmed its dead cross, while its RSI is now pointing lower again. Since the RSI is not oversold, think that there is still room n the downside. Stock is a sell at the moment, targeting the August and September 2010 lows of $1.53-1.56 levels in the near term. Upside is likely capped by the $1.91 levels as well as its 50day SMA at $1.93.
No comments:
Post a Comment