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.

Monday, September 22, 2008

Cosco 220908

Cosco managed to recover after hitting a low of 1.35 on 16 sep, breaking several key supports along the way. Although Cosco today broke the downtrend resistance (upp red), it is still not out of the woods yet.

Cosco closed below the 1.93 neckline today, and with volume not much more than last friday's, we could be seeing Cosco hitting some resistance soon.

If Cosco manages to stay above the 1.87 support (green ...), we could see it trading sideways, with the upside capped by the downtrend resistance (mid pink).

However, if Cosco breaks the 1.87 support, we could see it revisiting the 1.71 support (red --), or even the 1.62 support (lightblue --).

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For tomorrow :

Support @ 1.87 (green ...), 1.76 (upp red), 1.71 (red --), 1.62 (lightblue --), 1.57 (low pink)
Resistance @ 1.93 (pink --), 2.00 (mid pink), 2.10 (blue --), 2.27 (red ...)
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