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Noble Energy (NBL) Approaches New Downside Target of $30.84

By James Quinn

Noble Energy (NYSE:NBL) has opened bearishly below the pivot of $31.50 today and has reached the first level of support at $31.10. Should the shares continue to fall, the support pivots of $30.84 and $30.18 will be of interest.

Potential upside of 0.0% exists for Noble Energy, based on a current level of $0.00 and analysts' average consensus price target of $47.28. Noble Energy shares should first meet resistance at the 50-day moving average (MA) of $32.85 and find additional resistance at the 200-day MA of $33.01.

In the past 52 weeks, shares of Noble Energy have traded between the current low of $0.00 and a high of $52.69 and are now at $0.00. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Noble Energy on January 9th, 2017 by issuing a Downtrend alert when the shares were trading at $37.57. Since that call, shares of Noble Energy have fallen 16.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Noble Energy

Ticker(s): NBL