Noble Group Limited (SGX:CGP) Looking For Investors

Noble Group Limited (SGX:CGP) Looking For Investors

Noble Group Limited (SGX:CGP) Looking For Investors

  • Noble Group stock fell as much as 27 per cent on Wednesday, before closing down 8 per cent at S$0.385.
  • Noble, which has been searching for a new investor for more than a year, said in a statement: “The company has previously announced it is in talks with various potential strategic parties, and has informed the market that no assurance can be given that any discussion will result in a transaction. Such discussions are ongoing.”
  • Noble Group suspended trading on Tuesday
  • Shares  plunged by almost a third on Tuesday after S&P reduced its long-term credit rating for the trader while Reuters reported that China’s state-owned Sinochem had lost interest in investing in it.

Noble Group Limited is a supply chain manager. The Company is engaged in buying physical commodities and managing them into consumable products that meet the requirements of its customers through various ways, including logistics and transportation services; processing and blending capabilities, and structured and trading financing solutions. Its segments include Energy; Gas & Power; Metals & Mining, and Corporate. Its energy coal business consists of portfolio of trading, marketing and supply chain management services. The Company’s energy solution is a power marketer focused on offering supply and risk management services to commercial and industrial customers. The Gas & Power business is a customer focused energy trading and merchant business, partnering with both producers and consumers to address their exposures along the entire supply chain. It offers aluminum, copper, zinc, lead, nickel, alumina, bauxite and other raw materials through the Metals & Mining segment.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 1.20.

The projected upper bound is: 0.59.

The projected lower bound is: 0.11.

The projected closing price is: 0.35.

NOBLE GROUP closed down -0.035 at 0.385. Volume was 364% above average (trending) and Bollinger Bands were 143% wider than normal.

Open       High       Low         Close        Volume
0.325      0.485      0.305      0.385      107,929,600

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period           50-period        200-period
Close:                       0.62                    1.52                  1.67
Volatility:                296                     165                    110
Volume:                   95,054,600      28,412,574      19,920,398

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

NOBLE GROUP is currently 76.9% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of NOBG.SI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on NOBG.SI and have had this outlook for the last 47 periods. Our momentum oscillator is currently indicating that NOBG.SI is currently in an oversold condition. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 13.0890. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 15.39. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 11 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -98. This is not a topping or bottoming area. The last signal was a buy 4 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 28 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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