On Thursday, Cosco re-test the support at $2.04 and closed at $2.04 with HIGH volume of 22.03 million shares traded.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Cosco: $2.09

Immediate Support of Cosco: $2.04

Currently prices are resisted by 50 days MA at $2.09

Since prices broke the critical support at $2.17 with high volume on 7/May, it has triggered heavy selling and force prices to re-test another critical support at $2.04.

The support at $2.04 is expected to be very strong and consolidation can be expected at that level. Do watch if interested.

However if $2.04 support were to give way, more selling will be ...