Cosco break out

After my last "Abandonment" of Cosco, I continued to keep Cosco under KIV. The counter then was not really attractive after it broke down from its triangle. After much rest, I found this counter now looks more interesting.


Fig 1 Cosco Weekly Chart

After it broke out of its triangle, it continued to build a bigger downward wedge and since end of last week, it broke upwards from the wedge, and measurement would bring this counter to SGD1.50. As of today, it has moved up against a mildly bear market from its previous close of 1.19 to 1.23.

The caution to this counter is that the daily indicators are reaching the top, so probably there might be some pull back before moving higher.