On Thursday, Cosco re-test the resistance at $1.83 and closed at $1.82 with LOW volume of 15.03 million shares traded.

A white candle stick with short upper/lower shadow indicates that selling has eased as bulls tried to break the resistance at $1.83 but failed.

Both RSI & MACD are bearish as RSI in oversold region.

Important Resistance of Cosco: $1.83

Immediate Support of Cosco: $1.77

Currently prices are resisted by 200 days MA

Since 19/Jan, prices has been trending downwards forming a “lower low” and “lower high”. This is a very bearish trend.

As of now, we do not see any signs of rebound due to the bearish market sentiment.

We would be watching the resistance at $1.90 for any signs of rebound before we can consider entry.

On Thursday, Singtel broke the critical support at $2.86 and closed at $2.85 ...