On Friday, Cosco re-test the resistance at $0.94 and closed at $0.925 with HIGH volume of 6.2 million shares traded.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
Both RSI & MACD are bullish as RSI trend upwards.
Important Resistance of Cosco: $0.94
Immediate Support of Cosco: $0.835
Currently prices are supported by 50 days MA.
Since 10 Nov, prices have been consolidating along the key support at $0.835 and key resistance at $0.94
There are 2 ways of trading this range bound movement
1) Short at $0.94 resistance
2) Long at the $0.835 support.
On Friday, prices have already re-tested the critical resistance at $0.94 with high volume. We would expect bulls will to retry in the coming week and ...
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