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.

Wednesday, October 15, 2008

Cosco 151008

Cosco today opened below the long term downtrend resistance (upp pink ...), almost testing the downtrend support (low red). Cosco managed to swing from a high of 1.30 yesterday, to a low of 0.760 today, a difference of 0.54 !

Recovery of price above the 1.00 seems highly unlikely now. We could see Cosco continue to trade within the downtrend channel (upp pink ...) and may eventually hit the 0.500 level.

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For tomorrow :

Support @ 0.660 (low red), 0.555 (low pink ...)
Resistance @ 0.940 (upp pink ...), 1.04 (mid red), 1.28 (low pink)
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