On Friday, Cosco trend sideway and closed at $1.18 with HIGH volume of 10.52 million shares traded.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Both RSI & MACD are bullish though RSI in overbought region.
Important Resistance of Cosco: $1.36
Immediate Support of Cosco: $1.125
Currently prices are resisted by 200 days MA at $1.36
On 25/Jan, prices broke the critical resistance at $1.125 with high volume and this affirms to the bullishness of the investors.
However for the past 2 trading sessions, prices seem …