COSCO showing Weak Bearish Signal via Kijun Sen Cross

COSCO has hit our support line but so far no indication from our candlestick that it reverse. Based on Ichimoku system, COSCO has shown weak bearish signal when it crosses the Kijun Sen today closing below it while Chikou Span is not yet confirming the bearishness of the stock. If in case it will not bounce from here then we might see price to come near the Kumo or cloud. Top of the Kumo is at 10.20

RSI or Relative Strength Index is still above 30 level and approaching.

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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