Monday, May 7, 2012

Sakari & Noble - Short Signal

Noble Group closed 1.21 on last friday, this stock has been dropping for almost 2 month already. The mid term trend turn bearish since March(Blue bar turn Red), now the long term trend is also in Red( Short ribbon). Last friday the short term reversal gave us a signal for Shorting this stock, Entry price will be 1 bid below the previous day low,1.205. Stoploss will be 1.245, Timeframe 2weeks-2month(mid term), Target 1.09(personal opinion)

Sakari closed 1.98 on last friday, the story is same as above. Entry for Shorting 1.97, Stoploss 2.065, timeframe 2wk-2mth. First target 1.80, super strong support.

Both stock are in oversold position actually the chart is almost similar, so you might want to choose one if your capital is small, nothing is guarantee so pls watch your stoploss.