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 23, 2008

Cosco 220808

Cosco has lost about a third of its value since the beginning of August. After testing the long term downtrend support (low pink) on 19 aug, Cosco recovered a little and seems to have found temporary support around the 2.10 level.

However, Cosco also seems to have some trouble breaking the downtrend resistance (low red). We could see Cosco trading sideways next week, with some action later in the week when both the downtrend resistances (low red, mid pink) meet.

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For monday :

Support @ 2.08, 2.00, 1.91 (low pink)
Resistance @ 2.15 (low red), 2.195 (mid pink), 2.32 (mid red), 2.45 (blue ...)
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