Noble Group
Noble's Founder bought noble early this week @ 93.5cents ++. Yesterday, it was announced that their CEO and one of the director bought some noble @ 1.005.
Lesson learnt : Don't try to buy a price that is lower than your chairman. Perhaps the management were asked to buy its own shares as well.
Anyway, from a chart POV, a safer entry will be in the region of around 1 dollar at the moment but I don't forsee that level to be possible in the short term. Certainly, bullish behavior was observed and I will not be surprise if share price is able to hit 1.1-1.15 in the region of next 2 weeks.
Update 10/03/15 : Market is proving me wrong. Strong selling pressure today with lots of houses downgrading noble from sell to hold or hold to sell. According to one of the research house report that I read, it was mentioned that with Noble's high P/B value, which is slightly above average amongst its peers at the moment, we might expect some writedown in the future..
opportunity? or striking fear into investors? Until respite being observed, stay out.
Lesson learnt : Don't try to buy a price that is lower than your chairman. Perhaps the management were asked to buy its own shares as well.
Anyway, from a chart POV, a safer entry will be in the region of around 1 dollar at the moment but I don't forsee that level to be possible in the short term. Certainly, bullish behavior was observed and I will not be surprise if share price is able to hit 1.1-1.15 in the region of next 2 weeks.
Update 10/03/15 : Market is proving me wrong. Strong selling pressure today with lots of houses downgrading noble from sell to hold or hold to sell. According to one of the research house report that I read, it was mentioned that with Noble's high P/B value, which is slightly above average amongst its peers at the moment, we might expect some writedown in the future..
opportunity? or striking fear into investors? Until respite being observed, stay out.
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