Cosco 220409

After my analysis on 15 apr, Cosco went on to hit and exceeded the 11 dec high by 1 cent (1.17 vs 1.18). It seems that the chances of history repeating itself are increasing as Cosco went on to break the crucial 1.10 support on 20 apr.

If you look back to the dec period, after again breaking the 1.10 support, Cosco first traded sideways for about slightly more than 2 weeks, before collasping on 9 jan.

As you can see from the chart, the next crucial support for Cosco would be at 1.05 (lightblue --) where you can see quite a number of trendlines converging at that level. If this support breaks, we could see Cosco heading for the 0.995 (green ...) to 1.00 (blue --) level.

However, if Cosco can maintain at least above the 1.03 support (red --), we may see Cosco re-writing history.


For tomorrow :

Support @ 1.05 (mid blue, lightblue --), 1.04 (mid green, low red), 1.03 (red --), 1.00 (blue --), 0.995 (green ...), 0.965 (low pink, red ...)

Resistance @ 1.06 (mid pink), 1.08 (green --), 1.09 (mid red), 1.10 (blue ...), 1.1055 (upp blue), 1.11 (upp green), 1.12 (upp pink, pink --), 1.17 (upp red, lightblue ...)