On Thursday, Kepcorp re-tested its support at $9 and closed at $9 with LOW volume of 3.33 million shares traded.
A black candle sticks with short upper/lower shadow indicates that the rally has lost its momentum as the prices break the resistance at $9 unconvincingly.
RSI & MACD are bullish as RSI continue to trend upwards.
Important Resistance of Kepcorp: $9.31
Immediate Support of Kepcorp: $9
Currently prices are well above the 20/50/100/200 days MA.
As of now, Kepcorp is still supported on the rising trend lines although prices seem to be shaky above the $9 resistance turn support.
We would suggest watching the support at $9 and see if prices can be supported at that level for trading opportunities especially if you have miss the previous buying chance at $8.69.
But do note that the resistance at $9.31 will be a tough nut to crack.
On Thursday, Cosco re-tested its major resistance at $1.65 and closed at $1.61 with LOW volume of 9.84 million shares traded.
A dark cloud occurred (which indicates that prices moved up strongly on the previous bar, opened higher, but then closed significantly lower). This implies weakness as the momentum appears to be shifting from the bulls to the bears. Note that the lower the close of the black candle (relative to the white candle), the more bearish the dark cloud pattern.
RSI & MACD are bullish as MACD just performed a “golden cross” in recent sessions.
Important Resistance of Cosco: $1.65
Immediate Support of Kepcorp: $1.54
Currently prices are well above the 20/50/100/200 days MA.
We would not encourage buying Cosco now since the prices seems to have issues breaking the major resistance at $1.65.
Instead we would wait to see if $1.65 resistance can be breached at high volume before entry.
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