Thread by @malteseinvest

Analysis: #NASDAQ $NBL

Case 415 #NobleEnergy Inc.

Special Request: @CarlosSarPrada

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#NBL 1/5

Chart 1
Monthly Chart: The strong down move seen in Mar. 2020 was halted by the #Fib. 0.942 at 5.08, price has since then reclaimed Sept. 1974 #trendline. Immediate resistances, Oct. 2011 trendline at 13.42, then July 2018 trendline .....

NBL 2/5

..... at 19.94 and Apr. 2019 trendline at 27.67. Long term conditions are very #bearish, price would need to close above #pivot resistances at 27.06-29.14 and hold above 30.72 which will .....

NBL 3/5

..... see price meander towards the heavy selling area of 39.10-43.05 with synthetic #resistance sloping at 43.76 - a close above quickly targets heavy selling at 50.22-53.98, then synthetic 61.69.

NBL 4/5

Chart 2
Daily Chart: #Momentum is positive and climbing slowly. Above 11.13 targets 12.84, then the Oct. 2011 trendline.

The #Strategy is printed on the image.

$NBL 5/5

Blog format

threadreaderapp.com/thread/1291342…