COSCO – Uptrend still Intact
COSCO has tested the uptrend support recently (about $1.30) and currently testing the 20D MA resistance. Failing to break the 20D MA resistance may end the up trend. Keep a close eye on this 20D MA resistance!
COSCO has tested the uptrend support recently (about $1.30) and currently testing the 20D MA resistance. Failing to break the 20D MA resistance may end the up trend. Keep a close eye on this 20D MA resistance!
Rotary is currently trading within a rectangle. Rectangle’s resistance is $1.18 and rectangle’s support is $0.874.
In the near term, Rotary is going to test 20D MA resistance to see whether this rectangle pattern is still valid. Failing to break this 20D MA resistance and breaking the rectangle’s support will trigger a bearish down (a formation of lower low, lower high pattern) trend for Rotary.
OCBC is currently sitting on the neckline of a Double Tops, and also a 200D MA support. The uptrend has already ended for OCBC since the support is broken and turned into resistance. If OCBC breaks the neckline, the price target of the Double Tops breakdown is $7.00 which also coincides with 38.2% FR level.