Shares & Derivatives
Stock Chart: Cosco!
By Dou  •  January 8, 2012

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 ...

...
Read the full article
By Dou
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance