BUY Noble Group @ 1.04 on 28/7/2012

After the Positive News from European Central Bank Chief that he is vowing to protect the euro, stocks shot up sharply higher in Europe and US by 1+%.

Not wanting to waste this chance of optimism, I look around my familiar ground scanning for growth stocks.

As i looked through the list of Top 20 volume in SGX website, Noble Group caught my eye with a small increase of $0.005. What was really interesting is that its share price has originally been dropping non-stop and now showing signs of turn-around!

I plugged into ChartNexus and saw that RSI was at 18.2 (Anything below 30 = oversold) and it is bouncing back to the long-term support line of $1.052.

I went to check out the Analyst Reports at Reuters and got the info below:

Much as i do not like following Analyst Reports, when none of the 20 analyst gave "Underperform" or "Sell" comments, I believe it is an added bonus for my trade (We have to face it, many people still base their stock picks on analyst reports without doing their own research).

Coupled with the Positive market sentiment which i believe will continue at least for a few days (since US is also having better-than-expected economic reports); Noble Group Limited is a good one.

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