SGX Stocks in Focus 2015-05-05: Noble

SGinvestors.io

Noble shares rose 4.1% or 0.035 and closed at 0.890 today, ahead its results announcement after the market closed. It reported a Q1 net profit of US$106.6 million, turning around from a loss of US$240 million in the previous three months. However, the Q1 net profit was 30 per cent lower when compared to the same period a year ago.

Noble Group Technical Chart 2015-05-05

From the technical analysis perspective, the price seems well supported at 0.835. However, it didn't manage to close above its immediate resistance at 0.895 despite its price hit the high of 0.915 today.

ADX and MACD indicators show that the share has found its support after falling for more than 20% since the start of the year and the reversal of downtrend has started.

(click on the image to view larger chart)

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