Cosco 250408

Although Cosco did test the 3.62 resistance level (red --) on 24 apr, there wasn't enough momentum and Cosco closed below the uptrend resistance (upp blue) on 24 apr.



For today, Cosco opened right on the uptrend resistance (upp blue), and again, tested the 3.62 resistance level (red --). Selling pressure, probably because it's a Friday, saw Cosco being pushed all the way and tested the uptrend support (low green). Cosco ended the day just below the 3.48 support level (blue --).

Although Cosco is still in the uptrend channel (green, blue), reducing volume, together with new lows, would probably see Cosco trading sideways for next week provided Cosco holds on to at least the uptrend support (mid blue).

If the support (mid blue) breaks, we might see Cosco testing the 3.26 support (blue ...) again.

If Cosco can stay above the 3.48 support level, we might see Cosco trading between the 3.62 resistance (red --) and 3.48 support (blue --) next week.

For monday :

Support @ 3.47, 3.45, 3.35 (low pink, mid blue), 3.33 (low pink --), 3.26 (blue ...)
Resistance @ 3.62 (red --), 3.63 (upp pink, upp blue), 3.66 (upp pink --)

Good Luck !!