Today Noble Group announced a bad news as their profits dropped by 84%. To me personally and my years of experience, this is a good news for the chart because without this bad news, how would the Big Boys use this bad news to absorb at lower prices? The public have to be fearful and throw their shares first before the operators can start absorbing and accumulate.
The Noble chart is pretty bullish with many beautiful background hidden buying. Of course the time to long Noble is not quite here yet but with the right time and right price, one can look to hop on on this counter for mid to long term. I had drawn a simple buying zone line again. See what happens when Noble reach around that area.
source: http://www.straitstimes.com/business/companies-markets/nobles-q3-profit-falls-84-even-as-cash-flow-margin-improve
Ronald K - Market Psychologist - A Stock Market Opportunist
