Cosco
After almost 6 months of bearish bias consolidation, Cosco staged a remarkable rebound since December 28. The stock has rallied by 35% the last ten days. On the daily chart, it is now facing resistance at $1.37. If it is able to clear this level, we may see $1.47 in the horizon. Conversely, if it is unable to overcome this level, we may see prices pull back slightly to correct the overbought situation.
Both weekly chart & monthly chart are bullish based on Parabolic SAR. So regardless of the short term direction, this may be a good time to enter for long term investment.
Both weekly chart & monthly chart are bullish based on Parabolic SAR. So regardless of the short term direction, this may be a good time to enter for long term investment.
Labels: Stock Pick
posted by Market Wizards @ January 11, 2010
Comments: 0
