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Web thoughts-denzuko1.blogspot.com

My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

4/22/2010

Is 2.30 a reality for Cosco?

There has been much talk about on Cosco lately, it has shot up to 1.86 ever since it broke away from its triangle. The internet has been spreading rumours about this broker up-grade Cosco to 2.00 and that broker to 2.30. So will Cosco go there, or if Cosco would be coming down since the rise is so drastic?


Fig 1 Cosco Daily Chart

I looked a the chart, check the indicators, and just thought, " it is coming down now."

I do not know if it is a correction or a reversal, I at least recognise a divergence on both Stochastic and RSI. With the amount it has hyped, I can't imagine if there is a non-possibility of a plunge.

Anyone in this counter now, be careful.

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