COSCO has been bullish for the past few days and reached two years High! Currently COSCO is testing two years high resistance at about $1.87. If this resistance cannot be broken, COSCO may fall back to the long term uptrend support at about $1.60. This level is also a 78.6% Fibonacci Retracement Level.
In oder to build a strong base to continue COSCO up trend, the chart pattern must show $1.87 turns from resistance to become support. Current level is a high risk entry level and definitely is not a right entry level for me.