Slope of Hope Blog Posts

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Noble, Not So Much (by BKudla)

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I like using the 13 weekly EMA as a bull/bear line, and Noble broke that line and also has weakening relative strength.  A head and shoulder is also forming on the daily.  My trade plan is as follows;  I am in with a 36/40 call credit spread for $.40, I am out if NE breaks $35.  If/when the neckline breaks I will place a $30/25 Feb debit put spread, close at the measured move.

 

Noble_2010-12-22_1104 

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