Sunday, November 20, 2005

Cosco (C21) - Meaty Vs Risky!


At a look of it, no voracious trader would like to let Cosco(C21) go without a fight! The reasons are very simple. Daily Stochastic is now at the best position that anyone would like to enter trade. It has just crossed together with a upturn from the low end of its range;  and the RSI has just formed a mini double bottom and smartly bounced upwards again. In concert, MACD triggered off a buy 10 periods ago. CMF seems resilient against my manipulations: be it 5days or 14 days in parameter - both tests shown +ve envelope just surfaced!  Both Accumulation/Distribution chart and OBV are still upwards in tandem; these combinations positively alleviate the fear of its often intricate tussle.
However, in my sense, there are a few concerns as follows:
Price ROC although on its upturn was crossed by the MA that I used to confirm its robustness. This is a “show hand” of resistance to its potential accuracy. ADX flattened and D negatively placed, indicative of a mellowed downtrend. No immediate rally can be envisaged in this environment in near term.
Conversely, most indicators in the weekly chart look unfavourable. Furthermore, even in the daily chart I have spotted certain patterns not conducive enough to load up now. Namely: the Williams’ % R was frightening, tumbled towards the low band, relative low volume and eerie envelopes of MA within the departing MACD as shown in Chart above.
To me, follow the market is not enough, we ought to see what is coming!
So, let’s conjure the most likely outcomes:
As in the Chart (1) Consolidation, (2) Complete the Double Bottom and (3) an upturn
Base solely on TAs, either (1) and (2) can be envisaged. But with the impending urbanization of China along with its enhanced globalization, Cosco will surely prosperous in the long term perspective.
All said, the rest is up to you. But remember, in doubt, do nothing!

0 Comments:

Post a Comment

<< Home




MY Email : Smartyinvestor@Gmail.com

YahooWeather Bull Fish Business Times TeleText Future Market Investor College Bloomberg NewsStreet Directory Yahoo Financial Google News CNA Financial CPF National Library Board Reuters e-finex HK Market News CommerceAsia ADVFNListed Company