Shares & Derivatives
Stock Chart: Cosco, Wilmar!
By Dou  •  April 17, 2011

On Friday, Cosco re-test the resistance at $2.35 and closed at $2.33 with LOW volume of 16.11 million shares traded.

A white candle sticks with short upper/lower shadow affirms that bulls attempt to breakout of the $2.35 resistance but the market interest is very low.

Both RSI & MACD are bullish though RSI already at overbought region.

Important Resistance of Cosco: $2.35

Immediate Support of Cosco: $2.29

Currently prices are well above the 20/50/100/200 days MA

Since mid of Mar, prices have been going upwards in a very straight manner without any pullback.

However it is very likely that Cosco gonna pullback soon as the $2.35 resistance is very strong.

Cosco would required big buying pressure in order to break through this resistance.

Impossible to buy now but do prepare to take profit once things go wrong.

On Friday, Wilmar re-test the support ...

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By Dou
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