Today Noble just broke through its important neckline support and close lower at $1.7 with high VOL of 55.9 million shares traded.
A long black bearish candlestick with long upper/lower shadow indicates that the bears and bulls are having a furious war zone there.
The logic is simple.
1) Bear short noble after it drop past $1.73 neckline
2) Bulls trying to regain their position but only managed to recoup some of its loss.
Noble are expected to have another day of WAR tomorrow with high trading activities. Support at $1.62 will be another gate for the bears which already been tested today but further sell off will be expected if broken. But of course bull would try to push through the $1.73 support turned resistance as well.
Important Resistance of Noble: $1.73
Immediate Support of Noble: $1.62
We would not advise investors to enter now unless you are shorting since the direction is unclear and very volatile at high volume.
Nothing special about Singpost but just curious why no one ask me about buying Singpost at all.
All the while Singpost managed to hold onto its gains despite STI have a pullback.
Hope readers can change their mind when they see this chart.
Do not enter if Singpost drops below its 50 days MA which has been supporting the prices all the while.
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