Noble Group Limited (SGX:CGP) HEFFX Highlights

Noble Group Limited (SGX:CGP) HEFFX Highlights

Noble Group Limited (SGX:CGP) HEFFX Highlights

  • Noble Group Risks Equity Wipeout as Shares Retreat Yet Again
  • Commodity trader transfers stock to staff in units being sold
  • Company opens talks with creditors this week on restructuring
  • Noble Group Ltd.’s stock sell-off deepened as the trader pressed on with an effort to restructure its debt and transferred a block of shares to employees who are leaving the company.
  •  The shares sank as much as 9.7 percent to 16.7 Singapore cents, the lowest level since 1999, before ending at 16.8 cents. The stock has lost 18 percent since Friday’s close, dropping for a seventh week. The market capitalization, which once topped $10 billion, has collapsed to just $166 million.

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 0.27.

The projected upper bound is: 0.19.

The projected lower bound is: 0.13.

The projected closing price is: 0.16.

NOBLE GROUP closed down -0.017 at 0.168. Volume was 4% above average (neutral) and Bollinger Bands were 8% narrower than normal.

Open      High        Low           Close        Volume
0.185      0.186       0.167        0.168        7,847,900

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

Moving Averages: 10-period         50-period       200-period
Close:                       0.20                 0.32                  0.88
Volatility:                 105                  69                      150
Volume:                    6,375,019       4,014,706       19,256,636

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.

Summary

NOBLE GROUP is currently 80.9% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume out of NOBG.SI (bearish). Our trend forecasting oscillators are currently bearish on NOBG.SI and have had this outlook for the last 24 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 1.9802. 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 13.59. 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 110 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 -103.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 5 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 24 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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