This morning Cosco opened gapped down to 3.00, then the psychological support at 3.00 was immediately breached. It might move towards the next support at 2.80 very fast.

Old posts on Cosco

Capitaland Ltd seems to have stabilised after the recent sell down, finding itself a support at 5.53, a level could well be the bottom if it is not penetrated. But if 5.53 is broken, the downward momentum will continue to the next support at 5.42.

The immediate resistance at 5.97 has to be breached to further confirm the end of the near-term down trend. In the meantime, Capitaland is likely to trade within the resistance and support.

Dow Jones' 2-day rally did not seem to help in holding Cosco's price.

Cosco's 3.05 support was broken a short while ago.

Next support is lowered to 2.94.

ST Eng had a bad day today, breaking its strong support at 2.55 and closed at low of 2.49, a level last achieved on 31/10/2005.

Whether it is blue chip or government linked, when the market sentiments are very bad, low will get lower.

The new support is now lowered to 2.41, which looks quite fragile.

Cosco's day low so far is 3.06. There is a high chance in the short term to test the 3.05 support. Last support at 3.12 was broken on 3/7/2008.

Long holders, beware. Shorting opportunities might be coming.

Cosco's immediate support at 3.12 was broken this morning.

Next support is at 3.05.

Celestial is another stock that turns very bearish, after its immediate support at 77 cents was broken this morning. More lows are expected in the short term. Go with the flow, avoid going against the trend.

Now that Cosco has traded below the lower trend line (referring to the Cosco chart posted on 24/6/2008), it has turned bearish.

If it is able to close above 3.20 today, it is likely that it will hover around the lower trend line for a few trading sessions before it becomes clear where to head.

If it closes below 3.20 today, more lows are expected ahead.

This morning, when the market opened, Cosco gapped down to 3.20 from yesterday's close of 3.30. There is a chance that the gap will be closed before it moves further down.