Cosco – Chart looks Very Bearish!

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Cosco breaks the Falling Wedge support and 200D MA support today. Stock price is at the lower Bollinger Band and MACD also shows Bearish Convergence.

Summary of analysts’ recommendation on Cosco Corp:

Cosco’s chart is VERY BEARISH and I am avoiding this stock totally. Not the right time and right price to buy for long term investment as the price may go lower!

Continue ReadingCosco – Chart looks Very Bearish!

Cosco – will be breaking out from the triangle soon!

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What goes up must come down, what come down must go up! Although Cosco’s stock price has been beaten down recently, it has very big upside potential in the long term although the current fundamental is not really fantastic.

There are signs that Cosco will be breaking out from the triangle soon. The gyration of the wave is getting smaller as every day goes by. The stock price is currently testing its 20D & 50D MA support line. If it breaks out from the triangle and move south, the next support line is $1.15 (61.8% Fibonacci Retracement). If it breaks out and move north, $1.45 will be a strong resistance.

3 Years Historical High = $7.9
Current Price = $1.25 (16% of the 3 years historical high)

Continue ReadingCosco – will be breaking out from the triangle soon!