COSCO facing a strong headwind. Seeking support at Kijun Sen line
COSCO is facing a strong headwind during the recently concluded week that brought the price down to 9.43 per share, a 4.1% drop from previous week. The drop sends the price to the Kijun Sen line which acts as a support. This is considered a test of newly found support after the previous break from this line. But a break from this support will register a strong bearish signal call the Kijun Sen Break.
Remember we still don’t have a green signal from Ichimoku elements on weekly chart so a bearish sentiment is still in the air. Notice that Chikou Span is currenlty moving below the price and we need a close at 10.26 to at least create a bullish atmosphere. It would be a good decision to protect your profit for now and monitor the next candlestick.
More from my site
Latest posts by felix (see all)
- Philippine Stock Market – Update on selected stocks 4/21/2017 - April 23, 2017
- Philippine Stock Market – Update on selected stocks 3/31/2017 - April 1, 2017
- Philippine Stock Market – Update on selected stocks 3/17/2017 - March 19, 2017