Noble Group

Noble Group - after hitting the high of 49.5 cents on 23rd March 2016 it had since drifted lower to touch 31 cents on 20th May 2016. This is rather bearish.

The current price of 31 cents is getting closer to the major support level at 27 cents. Also current price is trading at a substantial discount of more than 50 % against the NAV of $0.70.

Also Both Macd & Rsi are being driven into oversold territories. High chance that a technical rebound is imminent .

Short term wise it may slowly gain strength and move up to re-test 36 cents. Crossing over of 36 cents with good volume that may drive the share price higher towards 40 cents then 44 cents with extension to 49.5 cents.

In my opinion,good value has presented at the current price of 31 cents. Also I think the management is doing its best to steer the company out of this difficult time. More importantly, they are still in the Black./profitable.
(trade base on your own decision)


Net Asset Value of  about 70 cents per share.

Operating income from supply chains increased 80% from Q4 2015(1) , up US$111 million to US$250 million for Q1 2016, although this was down versus Q1 2015 as we prioritized liquidity ahead of the refinancing Net profit of US40m.

CEO Yusuf Alireza commented “The first quarter of 2016 has been about establishing a solid foundation for our operations going forward. We are pleased to announce the successful raising of the Revolving Credit Facility and the US Borrowing Base Facility, at approximately US$3.0 billion in total. These facilities address substantially all of our remaining 2016 debt maturities. In addition, our focus on improving commercial opportunities in early 2016, despite capital constraints on our businesses, has already generated positive results with all major segments making a positive contribution to operating profit from supply chains in Q1 2016.

” Mr. Alireza also added that “We are looking to 2016 as a year for rebuilding and repositioning and are now focused on generating sustained profitability across the portfolio against the background of the lower cost base that we have put in place - while continuing our initiatives to free up working capital, reduce debt and enhance our capital base.”

http://infopub.sgx.com/FileOpen/Q1%202016%20Media%20Release.ashx?App=Announcement&FileID=404300