The downtrend in Cosco Capital (stock symbol: COSCO) from mid-October continues to take hold. But, unlike most major holding firms which have already made new lows for this year, COSCO has remained resilient and refused to join the pack… so far.
The MACD Oscillator (MACD-O) has recently jumped over the zero level and is now trading in positive territory.
Resistance comes at 11.00, with the 9.00 psychological level deemed as an important area of contention. The 14-month low at 8.00 is just close by.
TP’s Advice: Better to stand aside for now.
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