Noble Group: Another quick trade.

Technical analysis (TA) is dynamic. Day to day, charts have new information and TA will provide new insights.

Not too long ago, I wondered if Noble Group's share price might hit $1.90. Read blog post here.




If you guess that I must have been waiting to sell at $1.90, you are right.

However, doing a bit of charting last night revealed that we might not see $1.90 although there is still a chance we could.

The declining 20dMA is now at $1.89 while trading volume has dwindled lately.

Today, it hit a high of $1.875 before closing at $1.865, forming a white spinning top (almost) in the process.

There is obviously some struggle between bulls and bears at this level.





Half an hour before the market closed, seeing how $1.875 presented a respectable resistance and is only three bids from $1.89, I decided to divest at $1.87, selling straight instead of queueing at $1.875.

That is 4 bids below $1.89 but it gives me a gross gain of 5% in less than a fortnight.

It seems that I have made another quick trade after the recent one with NOL.

Conditions are not easy for long traders in recent months.






Counter trend trading demands that I stay nimble footed and less greedy.

A 5% gain here and there? Why not?

I am still learning.

Golden Agriculture: 200wMA cleared.

Golden Agriculture closed above the 200wMA in the last session. Cleared of this hurdle, we could see its share price going higher from here.

It is interesting to observe that the 50wMA has been crucial as support, seeing how share price bounced off the line each time it was tested in the past.

It would not be unrealistic to expect any retest of the 50wMA to see strong buying interest.

Related post:
Golden Agriculture: 68c support.