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Next Support Level for Noble Energy Inc (NBL) is $19.68

By Amy Schwartz

Shares of Noble Energy Inc (NYSE:NBL) have bearishly opened below the pivot of $20.86 today and have reached the first support level of $20.23. Investors may be interested in a cross of the next downside pivot targets of $19.68 and $18.50.

Potential upside of 103.9% exists for Noble Energy Inc, based on a current level of $20.53 and analysts' average consensus price target of $41.87. Noble Energy Inc shares should first meet resistance at the 50-day moving average (MA) of $24.24 and find additional resistance at the 200-day MA of $24.88.

In the past 52 weeks, Noble Energy Inc share prices have been bracketed by a low of $17.11 and a high of $37.76 and are now at $20.53, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Noble Energy Inc on May 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $25.28. Since that call, shares of Noble Energy Inc have fallen 17.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts noble energy inc

Ticker(s): NBL