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.

Tuesday, June 24, 2008

Cosco 240608

When Cosco opened above the uptrend resistance (mid blue), there was hope initially that it could test the 3.36 resistance (green ...) and the long term downtrend resistance (upp pink). However, selling pressure prevailed and we saw Cosco doing a U-turn and breaking the 3.26 (blue ...) supports instead.

Cosco closed at 3.20 today, which is right on 3 support trendlines. However, if you had noticed, Cosco is still trading within the downtrend channel (pink). So we could still see Cosco trending lower, unless it can stay above the 3.26 support (blue ...).

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For tomorrow :

Support @ 3.20 (mid red), 3.19 (low pink), 3.12 (low red), 3.08 (red ...)
Resistance @ 3.26 (blue ...), 3.32 (mid blue), 3.35 (upp pink), 3.36 (green ...), 3.41 (upp blue)

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