COSCO generally bearish but spike may give us some gain. Kijun Sen seen at 9.40

COSCO’s weekly chart shows a Bullish One White Soldier candlestick pattern which could indicate the start of COSCO’s spike. A possible spike to 9.40 unless the Kijun Sen line will take another course.

Daily chart shows that the 127.2% Fibonacci Retracement level is a strong resistance for COSCO but the bulls are not yet done. Notice that the Dark Cloud Cover we were talking about last time was not confirmed.

Generally, COSCO is still in a bearish mood based on Ichimoku system both on weekly and daily chart. So be careful and monitor closely if you are holding this stock.

Caveat!

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felix

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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