2 weeks target price = S$0.75 (Dead cat bounce)
3 months target price = S$1.14 (When dust settles)
1. Need a dead cat bounce as the plunge is over-corrected.
2. Short –squeezing will take place as shortists will all run at the bottom almost simultaneously.
3. The bosses will go in also at this time to give support to the share prices. Who knows some of the insiders also went short as they would have known the bad results and now they are closing the loop to make some money.
4. The fundamentals of commodities all over the world are actually quite sound and Noble has become too much undervalued after this triple whammy (bad quarterly results + 10-into-1 consolidation + Icerberg Research's condemnation.)
Source - investingnote , mmfsolutions