Cosco 060608

Although Cosco opened above the long term downtrend resistance (upp pink), there was more selling than buying and we saw Cosco closing below the downtrend resistance.

If Cosco can continue to trade within the uptrend channel (blue), we could see Cosco testing the 3.48 resistance (blue --). However, if Cosco opens below the 3.36 support (green ...) on monday, we would most likely see Cosco revisiting the 3.26 support (blue ...).



For monday :

Support @ 3.37 (low blue), 3.36 (upp pink, green ...), 3.338 (low red), 3.26 (blue ...), 3.09
Resistance @ 3.46 (upp blue), 3.48 (blue --), 3.50 (mid red), 3.60 (upp red), 3.62 (red --)

Hope you find my analysis helpful. Thank you !!