Noble

Commentary:

Noble has been riding on its uptrend channel for the past 1 month. In recent day, its price action met with stiff resistance from its intermediate downtrend line and price action has since break under its uptrend channel line. MACD line has also cuts underneath the signal line therefore adding more weights to the suggested weakness.

Strategy:

Aggressive traders can consider short position if price opens/moves lower than today's closing ($0.965) . Price is than likely to slip towards MA50 support at around $0.90. A more conservative approach would be for price to move nearer to intermediate trendline before initiating short position with tight stop loss in placed.