Noble Grp: CIMB has Technical Sell Call. Note that following the failure to regain the previous double top neckline support now turned resistance; think prices would likely continue on its downward trajectory in the near term. Possible short term targets are $1.24 and $1.15.
MACD has turned negative again after confirming its dead crossover while its RSI has hooked downwards once more. As prices remained below its key MAs as well as its key resistance at $1.68, the odds favour the bears. Traders should continue to stay with the bear’s camp as the near term gains are likely capped at the $1.60-1.68 resistance band. House will only review call if the candles can push this band. Place a stop above $1.70 just in case.
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