Shares & Derivatives
Trading Ideas: Noble, GAR, CMA
By I  •  May 5, 2011
Noble:




Dropped on high volume today despite having a new SWF buying over 50,000,000 units of Noble Group.

Strong support seen at $1.98 to $2.00 region, which coincidentally coincides with the lower channel line.

This one looks good. I will enter should prices drop to that region.


Golden Agri:




Another counter close to a strong support.
Strong support eyed at 63c.
Seems to be consolidating around 65c level.
Will consider entering should prices weaken to 63c


CapitaMallsAsia:

this one is another close to support.



Indicators wise, all three counters paint a similar picture:
- declining MACD, the latter two in negative region whilst Noble in positive region
-Bullish divergence for force index
-oversold stochastics.

Of these three, Noble looks the most compelling should it reach it's target price (Longer term picture is of an uptrend as opposed to downtrend for CMA). I will revisit them again if they reach target price......
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