Noble Corporation plc (NYSE:NE) Daily Technical Review & Outlook

Noble Corporation plc (NYSE:NE) fell by -1.54% in Wednesday’s trading session from $3.89 to $3.83 and has now fallen 5 consecutive sessions. The price has fallen in 8 of the last 10 days and is down by -17.1% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -3.62 million shares and in total 6.98 M shares exchanged hands for about $26.72 million.

Inside NE’s Recent Trend

Noble Corporation plc (NE) lies in the middle of a very wide and weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 9.36% over the course of a quarter and, with 90% chance the price will be floating in the range of $3.71 and $5.12 in this timeframe.

Noble Corporation plc Technical Signals

NE has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $4.17 and $3.90. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Thursday October 05, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Noble Corporation plc (NYSE:NE) Support And Resistance Levels

Noble Corporation plc (NE) recorded volume accumulation so there will probably be a surplus of buyers at $3.70. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $3.88, $3.89 and $4.13.

Accumulated volume is going to prevent the price from rising further at $3.88 and this action will lead the price to take a temporary pause or stay muted for a few days.

Noble Corporation plc (NE) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.17 between high and low, or 4.50%. The average volatility for the past week stood at 5.85%.

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