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.

Friday, June 20, 2008

Cosco 200608

After breaking the 3.36 resistance (green ...) and uptrend resistance (upp blue) on 17 jun, we saw Cosco hitting the long term downtrend resistance (upp pink). However, the uptrend momentum could not be sustained and we saw Cosco breaking the 3.36 support today.

If we compare this recent uptrend with the one during 26 may to 6 jun, we can find some similarities. Would we see Cosco gapping down next monday like it did on 9 jun? Market sentiments remains cautious as volume remains relatively low.

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For monday :

Support @ 3.30 (mid blue), 3.27 (low red), 3.26 (red ...), 3.23 (low pink), 3.19 (low blue)
Resistance @ 3.36 (green ...), 3.40 (upp blue, upp pink), 3.43 (mid red), 3.48 (blue --)

Hope you find my analysis helpful. Thank you for your support !!
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