Cosco 230508

There was hope initially of a small reversal when Cosco opened above the uptrend resistance (upp blue) and tested the 3.62 neckline (red --).



However, things took a turn and the downtrend resumed and selling pressure once again forced Cosco down, breaking the 3.48 support (blue --), the uptrend support (low blue), and closing right on the 3.36 support (green ...).

If Cosco breaks the 3.36 support (green ...), the next support, based on the significant volume distribution, would be around the 3.26 level (blue ...).

For monday :

Support @ 3.36 (green ...), 3.31 (low red), 3.26 (blue ...), 3.15 (low pink)
Resistance @ 3.394 (low blue), 3.48 (blue --), 3.557 (upp blue), 3.57 (mid red), 3.605 (upp pink)

Good Luck !!