The later part of Jan 2011 has been rather volatile and bearish for the Singapore market. But it does appear that this may be a good time to buy.
Above is a daily chart of Noble Group from mid 2009 till present. Moving averages show that both the middle and longer term trend is still up. It managed to break out of the previous high of 2.23 in late 2010, but has broken down in mid January 2011. Today, at the close, Noble group went below but managed to close above the 50day moving average. This seems to suggest a support at this level and it looks like a good entry for Noble group. Next support is at $2.00.
