On Friday, Cosco broke the support at $2.04 and closed at $2.03 with LOW volume of 13.8 million shares traded.
A black candle stick with long upper/lower shadow similar to Doji affirms that the investors are hesitant on the future directions on the stock.
Both RSI & MACD are turning flat as RSI began to trend sideways.
Important Resistance of Cosco: $2.04
Immediate Support of Cosco: $1.99
Currently prices are supported by 200 days MA at $1.99
Today Cosco just broke the critical support at $2.04 though the selling pressure is relatively low. Thus we would not be too worried yet.
However if the prices does not recover above $2.04 support soon, it will likely to trigger heavy selling pressure.
Watch it closely in the coming week If vested.
On Friday, Straits Asia re-test the support at $2.89 and closed at ...
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