Noble Group – Reaching our next target
Noble Group moved up once again from our posting last night to a day high of 0.199 and is closing in to our target of 0.205.
There was news out that China Sinochem is in early talk with Noble Group to buy a stake in it. Could this be the catalyst to push noble higher? We shall wait and see. From the chart 0.205 would be the fourth time it is being tested and there might be a good chance it could break out. We’ll be looking at the overall volume to see how strong this breakout could be. If it’s successful, we might eventually see 0.245.
Lastly, do remember to protect your profit and shift your trailing stop higher to 0.193-0.194. Will continue to update along the way.