May 30 - June 3, TA for Cosco Corp

June 2-3, TA for Cosco Corp 

• Trend - as indicated below,
• Momentum - as indicated below
• Support line - 1.90 ( good entry)
• Resistance - 2.03 (200D MA) - 2.05 Classical 
• Candlestick - Gap Down with mini hammer (bullish reversal signal)

This is a very good entry at 1.90 as it has very strong support. In general, Cosco Corp is trailing along the 200D MA. I have made my entry at 1.90 and see whether it will at least meet the 200D MA. Fundamentally, this stock should be up but technically it is trailing the reverse. 

TA for Cosco Corp,

Trend - Trend Reversal (Side Trend) - Price below 200D MA
Momentum - Oversold
Resistance - 2.00 (aligned with 200D MA) and 2.05 (classical resistance)
Support - 1.89 (new support formed)
Volume - 2X selling pressure
Candlestick - NA

Cosco Corp - As I mentioned on my previous blog on Cosco, this 2.05 is an important support line. Once broken, it will fall hard.

After the Monday fall, the stock is resisting along the 200D MA. It has bad news and also coupled with rigs win news. Thereby, stock has mixed signal. It will be getting difficult to trade CoscoCorp as it will wig-saw.