2/7/2017: (noble drilling corporation) stock analysis

The energy sector got weaker along with recent weak crude price. Noble drilling corporation (NE) is one of the energy stocks some friends plan to own. I made some analysis as following:

• price runs within a triangle, the price touched lower trend line
• technical indicators are still weak: MACD line still under signal line, price momentum oscillator line  also under signal line, RSI under 50 neutral
• the Bollingar band is squeezed very narrow, is ready to expand (price movement can be up or down)
• price can break either side of triangle with big upside move or downside move
• upside target is around 8.3
• downside support: $6, $5.25, and $4.5
• based on weak technical indicators and weak crude current price, the downside has higher probability (but lower probability event indeed happens)

http://schrts.co/di1BdG

In summary, there is no recommendation on this stock. Only analysis is provided.