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.

Saturday, January 5, 2008

Cosco 040108

Cosco's adventure in the downtrend channel (orange) was very brief. Afterwhich, it broke above the uptrend support (lower blue) and downtrend resistance (upper orange) and closed almost at the uptrend resistance (upper blue).

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However, as you can see from the chart, Cosco still has not reversed its downtrend totally, as it is still below the long term uptrend support (green) and downtrend resistance (red).

If Cosco can stay within the uptrend channel (blue), it would not be long before it breaks above these 2 downtrend lines.

For Monday :

Support @ 5.676 (lower blue), 5.60 (upper orange), 5.357 (light blue)
Resistance @ 6.025 (upper blue), 6.20 (green), 6.30 (red)

Good Luck !!
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