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SmarTrend Watching for Potential Rebound in Shares of Noble After 1.36% Loss

By Shiri Gupta

Noble (NYSE:NE) traded in a range yesterday that spanned from a low of $5.63 to a high of $5.81. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $5.72 on volume of 5.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Noble. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Noble in search of a potential trend change.

Over the past year, Noble has traded in a range of $4.45 to $18.08 and is now at $5.78, 30% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 2.0%.

Keywords: rebounders Noble

Ticker(s): NE