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Cosco after a high volume selldown, today formed a hammer candle. Could it be time for a technical rebound?

Cosco Corp previously tried to breakout from 1.02 resistance but could not held on to it and closed lower. Today Cosco formed a bearish engulfing candle and there are bearish divergence seen. If Cosco close below 1.00 support, then it would not be good for the bulls.

If Cosco breaks below 0.965, it would not be a good news for the bulls.

As per mentioned in YouTube, it hits a falling window acting as resistance. It would have to clear it before it is “bullish”.

Cosco is now sitting on a weak classical support which is also together with a fibonacci support. Both are weak support, therefore watch for a reversal candle before deciding. Do take note that you will be doing a counter-trend trade and before entering any trade, do remember to watch my this week YouTube.

If you have been following my alert, and entered Cosco, looks like I can see your smile on your face. Always watch your stop loss and not getting overconfident. Always be prepared for the unexpected.

Today Cosco briefly touched the 50 day moving average. Watch closely to see if there is a strong rebound from here or watch your stop loss.

Cosco has gone too far too fast and today formed a shooting star with higher volume. If there is a confirmation to the downside, support to watch out for would be 1.10.

Cosco today has a bullish piercing candle, however do note that confirmation candle is tomorrow (Wednesday). Which means the time to enter is on Wednesday, not on the candle day itself. Last I heard is that there are some company announcement which is not good (too sleepy now to verify it but you can find […]