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, May 22, 2008

Cosco 220508

After forming the Gravestone Doji on 20 may, Cosco's highs have been lower, with 3.52 being the temporary support. Cosco also closed below the downtrend support (mid red).

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We might see Cosco continue to trade sideways, with 3.48 acting as the support (blue --). If the 3.48 support (blue --) breaks, the next support based on volume distribution would be around the 3.40 level.

For tomorrow :

Support @ 3.55 (low green), 3.53 (low blue), 3.52, 3.48 (low red, low pink, blue --), 3.40
Resistance @ 3.58 (mid red), 3.62 (red --), 3.63 (upp pink), 3.68 (upp red)

Good Luck !!
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