Cosco on 8th January 2016 has managed to stage a rebounce from the low of 33.5 cents and close higher at 38.5 cents. The volume has also increased with 11.22m changing hand.
It is still on a downtrend mode as reflected on the chart.
It will definitely need to cross over 42 cents with good volume in order for it to reverse this downtrend and head higher.
RSI indicator is showing sign of rising higher which may provide further indication for the share price to head higher.
When trading with this counter individual has to do your own home work as the shipping industry business is still not very rosy. In fact , Shipping fright rates is still dropping or rather very low rate. Therefore, individual has to exercise with due diligence and extra cautious especially when trading with counters related to this sector.
(trade/invest base on your own decision)
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