On Thursday, Cosco re-test the support at $1.14 and closed at $1.17 with HIGH volume of 48.53 million shares traded.
A white candle sticks with long upper shadow similar to “hammer” affirms that investors buy on the support and prices rebound strongly.
Both RSI & MACD are bearish though RSI in oversold region.
Important Resistance of Cosco: $1.36
Immediate Support of Cosco: $1.14
Currently prices are well below the 20/50/100/200 days MA.
Today Cosco re-test the critical support at $1.14 and managed to rebound strongly forming a candle stick similar to a “hammer”.
For the past 4 trading sessions, Cosco have been under heavy selling pressure as panic heightened.
Although $1.14 support is expected to be strong but we would urged to wait for consolidation or at least the ease of volume before entry.
On Thursday, Sembmar re-test the support at $4.11 …