Congrats to those who managed to lock in some Cfd sell positions 2 weeks back J
Sent: Friday, July 10, 2015 9:55 AM
Subject: ************ Cosco Corp: Breakdown below key support seen, price 0.45, more downside likely below this new resistance of 0.47
Subject: ************ Cosco Corp: Breakdown below key support seen, price 0.45, more downside likely below this new resistance of 0.47
Cosco Corp has traded above the 0.465 – 0.47 key support level for more than 3 months since March where it rebounded from. However, over the past few days, we can experienced a breakdown below the support level which can signal an end to the sideway consolidation phase. We may start to see more weakness from here as long as 0.47 is a new resistance now. Target to 0.40 then 0.35 in the short to mid-term with MACD indicator still showing negative momentum and moving averages all pointing lower. CFD sell can be used to ride any downside if market conditions worsen further and resistance holds.
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