On Tuesday, Cosco re-test the resistance at $1.90 and closed at $1.88 with LOW volume of 16.8 million shares traded.

A white candle stick with short upper/lower shadow affirms that investors are still indecisive on the future direction of Cosco.

Both RSI & MACD are flat as RSI trend sideways.

Important Resistance of Cosco: $1.90

Immediate Support of Cosco: $1.81

Currently prices are well below 20/50/100/200 days MA.

Although prices re-test the resistance at $1.90 today due to the securing of new contracts but the buying pressure is relatively low.

Moreover with the critical resistance at $1.90 still intact, we would affirm that the rally is lack of conviction.

We would suggest buying at the last gate of $1.81 since it is expected to be very strong. Otherwise wait for the breakout of $1.90 resistance to indicate the signs of reversal.

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