I’m sure everyone is well aware of Iceberg’s research report on Noble. Honestly, I haven’t really read much into it. The only thing I’m aware of is the $600m on Yancoal and target price of $0.10
Honestly, I feel that $0.10 is too exaggerated. Using a TA perspective, here’s why. It’s a fact that Noble has been trending down since Sept 2014. To trade with the trend would mean to never have been long in the first place. I agree that the rally starting from Feb 2015 gave somewhat of an indication that trend may have been broken. However an uptrend can only be confirmed when price makes a “higher high, and a higher low“. This simply tells you that there’s no uptrend although it indicated a possibility with just a higher high.
Since what has happened has happened, let’s look forward.
Where is the market heading ......