Cosco had a nice white thrist bar appeared on the chart today and closed well at 32 cents couple with good volume this is generally quite positive.
A reversal signal seems to have formed today and in my opinion it may likely follow through to move up to test 33 cents.
With both Macd & Rsi is showing sign of a positive divergence which may provide further indication that the share price may continue to head higher.
Breaking out of 33 cents with good volume that may drive the share price higher towards 35.5 cents then 39 cents with extension to 40.5 cents.
(Trade base on your own decision)
COSCO - 14th Mar 2016
COSCO after hitting the low of 28.5 cents on 16th Feb 2016 had 2016 to edge up higher to touch 40.5 cents on 10th Mar 2016. This is rather impressive/bullish despite negative FY2015 result.
The current price is hovering way above the SMA lines which is generally rather positive.
Also both Macd & Rsi are still trending upwards that may provide further catalyst that the share price may continue to head higher.
Breaking out of 40.5 cents with good volume that may propel to drive the share price higher towards 47 cents with extension to 53.5 cents.
(trade base on your own decision)
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