Wednesday 23 March 2011

STI Technical Outlook 23 March


SCRIP NAME ACTION HOLDING PERIOD RECOMMENDED PRICE TARGETS STOP LOSS
Cosco Corporation
(Singapore) Ltd.
Long 4-5 days 1.91 1.95-2.00-2.05 1.87

  • Cosco Corp looking bullish on daily graph, Cosco trading above its 200 day MA level today @ 1.872 and having next resistance @ 1.913 level.
  • Cosco Corp making a Falling wedge pattern, as it was trading in a bearish trend and now it can move to bullish zone as it took support @ lower support line and reverse, so if it will give breakout above 1.913 it can turn to be bullish.
  • Cosco Corp having a Resistance level @ 1.913 and it can move towards 1.945-1.98-2.04 above the breakout.
  • Cosco Corp having Support @ 1.87 levels as it was a Resistance previously and now it will be a Support zone below this 1.84-1.79 will be the support for Cosco.


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