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.

Tuesday, January 13, 2009

Cosco 130109

The 0.790 support (blue ...) seems to be holding quite well for Cosco for the time being. However, Cosco closed below the 0.815 neckline (red --). And as you can see from the chart, this neckline can prove hard to overcome as quite a lot of people are trapped (based on the volume distribution bar).

So, if Cosco doesn't break the 0.815 neckline soon, we could see it softening further, at least to the 0.765 support (lightblue --), which is also where the downtrend resistance (mid red) meets the uptrend support (low blue).

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For tomorrow :

Support @ 0.790 (blue ...), 0.765 (lightblue --), 0.750 (low blue), 0.735 (low red), 0.730 (green ...)
Resistance @ 0.815 (red --), 0.845 (mid red, lightblue ...), 0.860 (upp blue), 0.875 (blue --)
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