On Thursday, Cosco re-test the resistance at $0.735 and closed at $0.725 with LOW volume of 0.482 million shares traded.
Both RSI & MACD are bearish as RSI trend downwards.
Important Resistance of Cosco: $0.735
Immediate Support of Cosco: 3 years low
Currently prices are resisted by 20 days MA at $0.735
On 15/Jul, prices have broken the critical support at $0.735 with high selling pressure. This is a bearish signal and likely to trigger more selling ahead.
The support turned resistance at $0.735 is expected to be strong.
We would not suggest to buy Cosco now due to its long/short term bearishness. In fact, shorting would be a better option.
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