Noble: trading idea

Channel support broken. Can't say decisively yet it looks too out to be a whipsaw.

MACD potential bullish divergence negated with today's sharp downtick of both MACD line and histogram.

Next support at 1.67 then 1.57. Might get my foot in at 1.67 and add more at 1.57 should it be tested. Cut loss will be decided should noble get into my buy range.
profit target will be at channel support turned resistance, and then in the value zone between 13 and 21 day ema

Trading Ideas: Noble, GAR, CMA

Noble:

Dropped on high volume today despite having a new SWF buying over 50,000,000 units of Noble Group.

Strong support seen at $1.98 to $2.00 region, which coincidentally coincides with the lower channel line.

This one looks good. I will enter should prices drop to that region.


Golden Agri:

Another counter close to a strong support.
Strong support eyed at 63c.
Seems to be consolidating around 65c level.
Will consider entering should prices weaken to 63c


CapitaMallsAsia:

this one is another close to support.



Indicators wise, all three counters paint a similar picture:
- declining MACD, the latter two in negative region whilst Noble in positive region
-Bullish divergence for force index
-oversold stochastics.

Of these three, Noble looks the most compelling should it reach it's target price (Longer term picture is of an uptrend as opposed to downtrend for CMA). I will revisit them again if they reach target price...

Short Term Trade: Noble and Neptune Orient Lines?

Looking at the weekly chart for Noble group.
-MACD and Stochastics show oversold
-13w & 21w EMA show a steady long term uptrend

As for the daily:

Noble has bounced off support at 1.98 thrice
MACD Histogram slight bullish divergence
RSI bullish divergence
Stochastic oversold

Was I to trade Noble, I'd probably buy in at $1.98 to $2.02, with a stop at $1.93 (Below the recent whipsaw) with a price target of $2.20, giving a risk:reward ratio of slightly less than 1:2 after factoring in commissions.


As for NOL:

The weekly chart shows a steady uptrend; however, 13w EMA is about to cross down from 21w EMA.
-No divergence seen in any of the indicators used.

Daily shows:

-Bullish divergence for MACD Histo and RSI
-Stochastics show oversold
-FI shows it's probably too early to pick a bottom
-NOL has bounced off support at 1.88 twice; 1.88 is probably a better entry range.

Were I to enter this trade, I would enter at the 1.90 range with a target of 2.10 and a stop loss of around 1.85 (below recent low) giving a risk:reward ratio of slightly less than 1:4 after factoring in commissions.