Saturday, April 12, 2008

Crystal Ball Technical Analysis Review on Cosco

With the high sell down volume on 10th April 2008 it is unlikely that price will be moving up soon unless some Big Boys agressive buy up happens. Those who sold in large volume are probably not going to buy back until better bargain prices. The important immediate support now is $2.80 if this support fails then we need to project downwards. For this review we will just use Fibonacci Extension as a guide to obtain some potential support levels. At 61.8 retracement level is $2.70 and at 78.2% retracement level is $2.37.

1 comment:

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