Noble’s share price gains despite report; Iceberg brushes off lawsuit threat

Noble might bounce back to above $1.

Noble Group’s share price gained this morning despite Iceberg’s third report, while the anonymous research house shrugged off news of Noble’s legal action.

According to Nicholas Teo of CMC Markets, key prices to watch for support are $0.89 and last week’s low of $0.845

“Breaking this support may see the stock test $0.72, the next technical support level. Conversely, should $0.89 hold, we may see Noble continue with its bounce last week to test $0.965 and then $1.07,” Teo noted.

Meanwhile, Iceberg reiterated its position on Noble despite news of a lawsuit.

“Legal gesticulations will not hide the fact that Noble is unable to come up with a rebuttal for our third report. What does it mean?” Iceberg tweeted.