Monday, May 4, 2009

Noble Group - Brokeout of $1.43



One counter which has just broken out of major resistance is Noble Group. From the chart above, you can see that the MACD lines have just cut, giving a buy signal. Also, the price closed above the resistance of $1.43, thus giving us two buy signals for Noble group. Volume is also much higher than that of the previous week, confirming strong buying support for the move up. The next resistance is at $1.66.

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