Cosco at .675 looks to be well supported based on the 3-year chart I'm looking at. Prices have bounced from this level thrice and is testing it for the fourth time.
However I would like you to consider these factors before purchasing, and if you can find the answers, then what I say here shouldn't stop you from purchasing.
1) What is your target price? Cosco has been trading sideways since Nov 13. Almost a whole year of sideways trend.
2) Is there any catalyst that you might know of that could potentially revive the share price of cosco, breaking into new highs once again to jumpstart an uptrend.
3) Overall 3-year trend is still a downtrend. However it does appear to have come to a standstill.
My earlier question is from TA point of view, is cosco likely to bottom at 67 cts and have a technical rebound from 67 cts to say around 71 cts or not??(becos someone said cosco's 10-years-low was 67 cts)
Becos if I were to buy this 50 lots at current price, is not to hold long-term for it to break new recent highs. If I were to buy this 50 lots at current price, is merely for a trading buy to sell off once cosco is at 71 to 73 cts. (50 lots at 4 to 6 cts gain is already $2000 to $3000 profit b4 brokerage)
I can fully-paid this 50 lots of cosco becos my bank account has $65,000 currently.
Hence my earlier question is from TA point of view, is cosco likely to bottom at 67cts and have a technical rebound from 67 cts?(which it did bottomed at 67 cts and rebounded 3 times for the past 1-2 years).
Or is it likely to fall below and close decisively below 67 cts this fourth time? If from TA point of view, cosco is very likely to break below 67 cts to fall towards 60 cts or even below 60 cts then I would of course not want to buy 50 lots at current price for the trading buy
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