Cosco 300508

Cosco today managed to break the downtrend resistance-turned support (mid red) with volume (compared to 29 may). Cosco also closed right on the uptrend resistance (mid blue).

If Cosco can open above the downtrend support (mid red) on monday, and break the uptrend resistance (mid blue), next resistance based on volume distribution looks to be around the 3.43 level. And after that, at the 3.48 - 3.50 level (blue --).

If Cosco can break the 3.48 - 3.50 level with substantial volume on monday, there's a good chance for a reversal as it would have broken the long term downtrend resistance (upp pink).



For monday :

Support @ 3.37 (mid red), 3.36 (green ...), 3.33 (low blue), 3.26 (blue ...), 3.24 (low red)
Resistance @ 3.434 (mid blue), 3.48 (upp pink, blue --), 3.584 (upp blue), 3.62 (red --), 3.64 (upp red)

Good Luck !!