Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Thursday, January 3, 2008

Cosco 030108

Cosco broke 2 support lines (lower blue, lower orange) today. And Cosco isn't too far off the long term uptrend support line (light blue - joined from lows of 17 aug and 18 dec).

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You can see from the chart that the orange and light blue lines meet @ about 5.35 and this would be critical as tomorrow's support. If this breaks, we may see Cosco testing 5.00 again.

However, 5.65 (orange and blue coverge) is also another critical resistance for tomorrow. If Cosco manages to break above 5.65 with volume, 6.00 (upper blue) or even 6.20 (green) is a possibility.

Good Luck !!
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