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!

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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.

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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