On Monday, Cosco broke the critical support at $0.735 and closed at $0.73 with HIGH volume of 2.335 million shares traded.

Both RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Cosco: $0.735

Immediate Support of Cosco: $0.705

Currently prices are well below 20/50/100/200 days MA.

Since 18/Oct/13, prices have been trending downwards forming a lower high and lower low. This is a bearish signal.

The support at $0.705 is expected to be strong.

We would not suggest to buy now but rather to wait for consolidation. Any rebound will be well expected now especially with the RSI in oversold area.

Important News

Sembcorp Industries Ltd. (U96.SG) 3Q net profit increases 40% to S$254.4 million compared with S$181.2 million last year.

Stock Chart: Cosco! is contributed by : Singapore Stock Information Exchange