Studying the multiple year trends and chart for Noble Group, it only revealed more uncertainty. The stock had been trending down for a year from $1.4 to now $0.335. Commodities took a hit and with Noble being one of the most heavily traded counter in the Top Volume, this stock is the worst performing counter with so much negativity reports and news. 22 hours ago, a good news was released where the chairman increases it's stake which to me is to show the public confidence that the company still has hope and the insiders are buying back the shares in hope to relive the stock's once "vibrant" activity.
From the chart wise, there are no signs of turning or positive mood for the counter. There no no obvious buying interest from the public nor there was any signs of bullishness. In the near term, this counter may either sell down or stay stagnant until I see some signs of hidden buying. Will 2016 be a positive change for Noble Group to trend upwards? Only time can tell. Let's watch.
news and picture source: channelnewsasia.
http://www.channelnewsasia.com/news/business/singapore/noble-group-chairman/2415234.html
Ronald K -
Market Psychologist -
A Stock Market Opportunist
