Neptune Orient (N03) Updated as Requested

Neptune Orient is currently in a Consolidation Channel (1) between $3.36(Resistance) and $3.24 (Support). In (2) we can see the Ascending Triangle is making new higher low and is in a mini double bottom formation within the Triangle. This is saying that the Buyers currently are still willing to pay slight increment of price progressively and the near trend is still up. A Spinning Top against its prior Black Candle would have been bullish in a downtrend pattern. Unfortunately, currently the phase is an inactive stage, as such there shall be not much significance in deciding the future faith. The other clue which is suggestive of non volatility is the MACD signals lines (3) converging its gaps. This denotes the “running out of steam” symptom. RSI tilted up at 65 while Stochastic reversed and curled up at 30 but still negatively crossed.
I see no reason to enter in trade now, as nothing seems to motivate its trigger. I still maintain as in my previous posting that unless $3.40 is breached, putting good money in a sideway environment is surely the easiest way to drain one’s resource.
P/s(30 Dec 2005 8:00am) Kindly factor in good news of increased shipping surcharge in your trade!