Monday, December 19, 2005

Cosco (C21) as Requested



Cosco already had a 2B/Turtle Soup Top; began on the 28 Oct 2005. It ended on the 12 Dec 2005 against its Trend Line. This pattern is a bearish intent. Looking at another lens on the same perspective, a Single Top was formed on 21 Nov 2005 ended today. The price breakthrough at the support level of $2.20. To add significance to this endeavour, it almost coincides with 23.6% Retracement. All these are pointing towards a tumble to the next support level at $2.08.
All other indicators are really bad as ever. It’s all in the Chart 2.
Candlesticks look really frightening! 2 recent Shaven Colored Candles tell it all. See without any wicks at top and bottom. It signifies dominant bear occupancy. The high volume accompanying the Candles and the forceful ADX rushing upward at 28 (most trendy stage) clears further doubt of a very bad near term!  

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