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, August 9, 2008

Cosco 080808

The last time Cosco plunged to the 2.3+ level was way back on 28 feb 2007, when it gapped down on opening on a low 2.32, and closed stongly at 2.75. However, things are alot different today.

Yesterday, Cosco gapped down too, but it plunged further to 2.33 before closing just below the 2.45 resistance (blue ...). Today was just a little better as in Cosco did not revisit the 2.33 low, but still close below the 2.45 resistance .

Things have taken a dramatic turn for the worse since 1 aug and Cosco has broken many important supports. It would most likely be quite awhile before we see Cosco recover to the 1 aug levels.

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For monday :

Support @ 2.38 (mid red), 2.258 (low pink), 2.22 (low red)
Resistance @ 2.45 (blue ...), 2.55 (mid pink), 2.60 (grey), 2.74 (green ...)
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