Moses’s Singapore Stock Market Analysis, Neptune Orient Lines, NOL Update, Fail Evening Star Candlestick Pattern
In the last analysis, I suggest we should wait for the pattern to complete before we conclude the price action will travel north or south. Although for day trader we would like to trade every day, but to protect our capital we should wait for the pattern to complete. When you are unsure, you should stand aside and not trade what you think.
Now, at least it is clear that the price action did not form an evening star candlestick pattern and travel south. The price action was in an accumulation mode. It has moved sideways for the week. The price action may be is building up strength to prepare for a burst up. We should let a pattern to form first.
Neptune Orient Lines, NOL Daily Chart
Neptune Orient Lines Daily Chart, February 10, 2012
Neptune Orient Lines, NOL Weekly Chart
Neptune Orient Lines Weekly Chart, February 10, 2012
By Moses February 12, 2012
DSICLAIMER
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