COSCO found support at 23.6% Fibonacci Retracement level

Did COSCO found support at 23.6% Fibonacci Retracement level? Its seems so as price bounce from 8.8 and is currently about to move to 9.x level But this stock should not be taken lightly because if you consider the Ichimoku system, all elements are still in bearish mood. There is a possibility of touching 9.3x based on Kijun Sen line which is moving horizontally but once it will bend, this target price may not be hit.

If you were able to get some shares at 8.80 then you may hold it for a while and watch the movement.

RSI or Relative Strength Index is still very low.


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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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