Chart Source: Poemsview 25th Feb
Cosco once a market darling as seen relatively muted action the last few months. Cosco has been moving in a sideway movement for the last few months but has seen some volume coming in the past week.
Cosco has caught our attention but there are some things to take note for Cosco.
- Its earning results could round the corner. So as what we always mention, there is a risk trading into earnings.
- Its 200SMA is very near which could act as a resistance.
On a positive note, it has broken above its long term downtrend line and staying above that might signal more upside. Its closing volume on friday was the highest over the last 3 months.
What’s your trade plan for cosco like?
It is important to have a sound and actionable trade plan in order to be discipline in your trades.
CLICK HERE to see how you can learn how to plan a sound and actionable trade plan and to be part of this EXCLUSIVE COMMUNITY to enjoy such value added services.