COSCO: Is the flight to 8.30 clear?

After reaching around 161.8% Fibonacci Retracement level, is COSCO ready for a rally? Today it is up by 4% closing at 7.85 Based on our chart, we have a possible rally to 8.30 if Kijun Sen line will continue to move horizontally. While on our weekly chart we have the 9.40.

Don’t forget the Ichimoku elements are still in a bearish mood so this spike may not last long and with a strong headwind, this may hinder the bulls to reach the target. So always on the look out.

RSI or Relative Strength Index is still very healthy at 40.5

Caveat!

One Response to COSCO: Is the flight to 8.30 clear?

  1. […] reached the 8.3x (COSCO: Is the flight to 8.30 clear?) mark before retracing and closing at 8.10 The Kijun Sen which attracts the price to go up is now […]

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