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.

Saturday, July 12, 2008

Cosco 110708

Although Cosco is trading above (barely) the long term downtrend resistance (upp pink), it is still not out of the woods yet, as it again tested the 3.08 support on 10 jul. It is also trading below the mid term downtrend resistance (mid red).

Recent average daily volume has also dropped, sometimes even below the 10m mark. We may have to see an increase in daily average volume first before there's any chance of Cosco picking up again. That's provided it doesn't break the 3.08 support (red ...).

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For monday :

Support @ 3.09 (low blue), 3.08 (red ...), 3.06 (upp pink), 2.98 (red --)
Resistance @ 3.17 (mid red), 3.22 (upp blue), 3.26 (blue ...), 3.33, 3.36 (green ...)

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