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MACD Divergence
MACD is a leading indicator, it provides a hint on change in price action direction.
Neptune Orient Lines Limited Stock Price Analysis
MACD is a leading indicator; it provides a clue to price action change direction. See chart, price action forms a lower low but MACD forms a higher low. It provides a hint that the price action may change in direction.
However, the change in price action will have to be confirmed first. It is just like traffic light provides a warning in change in traffic direction. The traffic light may not change. Be patient, breakout of trendline is a confirmation.
September 18, 2015 Neptune Orient Lines with MACD Divergence
Neptune Orient Lines Limited and Double Bottom
The price action has confirmed the change in price direction as hinted by the MACD divergence. Now, the chart pattern is about to be double bottom. The price action has touch the neckline. Only till the price action breakout from the neckline, then the chart pattern is confirmed.
Can you see the bear trap on chart?
September 23, 2015 Neptune Orient Lines Limited and Double Bottom
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