Friday, 12 May 2017

NOBLE GROUP - RSI BRUTALLY OVERSOLD FROM $2.00 TO $0.665 IN 1MONTH)

I would call it the NOBLE FISACO. Series of event such as the  AGM on 28 APRIL 2017(shareholders not happy about the Share Consolidation being put into effect); Share Consolidation on the 5th May 2017 and the announcement of the Profit Guidance(9 MAY 2017) & 1Q Result(Yesterday 11 MAY 2017). Usually a share consolidation alone would trigger some wave of sellings due to management not confidence about their future prospects but management reason would be to take out volatility & speculation. This share consolidation clearly didn't worked for NOBLE GRP. Then come the profit guidance and results trigger another wave of selling. Technically NOBLE GRP is suffering from the brutal sell-off that started 1 MONTH ago, RSI dipping to 15(below 20). Next week would be an important week to see NOBLE given the troubles its faces. Level to Target 75-77cents.
 
 

No comments:

Post a Comment