Cosco - Breakout Trendline resistance

CoscoCorp=$1.32 (Breakout Trendline resistance)

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Will Rising Baltic Dry Index Keep Driving Cosco Up?

The Baltic Dry Index (BDI) is a measure of shipping costs for commodities,exceeding 3000 points for the first time since october, buoyed by Chinese demand for iron ore. The index tracking transport costs on international trade routes rose 222 points or 7.6% to 3164 points on 27 May 2009, leading the longest advance in two years.

Does the strong rebound in BDI beyond 3000, in tandem with the worldwide stock market rally, telling us that we have finally passed the worst of the downturn since the credit crisis began in late 2007 ? What are the implication for shipping and shipbuilding stocks like Cosco Singapore ? Shouldn't it be a good news for Shipping stocks?

Last week, Cosco share price gained 9 cents at $1.28 on strong traded volume of 79 million shares. This is in stark contrast to low trading volume and flat trading price pattern for the past few trading days. On the chart, we can see that big white candlestick breaks out of the SMA H(5), signalling it could possibly move higher to around $1.50 level, in line with the rising Straits Times Index (STI), which closed higher at 2329 level last week.

If STI is supported by 2300 level, we may see STI rising to 2500. In such scenario, Cosco share price will also move up higher in a steady uptrend. Afterall, the whole market is flooded with so much liquidity at a near zero U.S. interest rate.

Cosco need more volumn to get higher

CoscoCorp=$1.21 (Going for 200DMA at $1.39? need more volume)

CoscoCorp - eventhough today is Due 2 for the trade done on 16 Apr...

On 16 Apr, volume was a huge 72mln shares traded as high as $1.18. However, the day chart looks like a breakout from a bullish flag. We shall monitor for a while....it could be a buying opportunity after the force selling is over.

All the U shape - Jardine CC, Cosco, China Fish, Asia Env, Gen Int

Jardine C&C=$14.48 (Called on 2 Apr when broke 200DMA at $12.30...Take profit)


CoscoCorp=$1.17 (Short term target reached at $1.16..Take profit and wait for pullback)


China Fish=$0.74 (called at $0.65..target reached..take some profit)


Asia Env=$0.135 (Brokeout from the 4months trading range...look to the gap at $0.18-0.19 as it may be filled)


Gen Int (why we need to respect the 200DMA....example herein)

Chart of Sino-Env, Cosco, Asia Env, Biosensor, Chartered

Sino-Env=$0.20, called buy on 9 Apr at $0.155... reached yellowline at $0.205...take profit?


CoscoCorp=$1.05 (It will be positive if it can cross and stay above the yellowline....reinstate a buy


Asia Env=$0.13 Breakout?


Biosensors if breakout 200DMA.....


Chartered=$0.135 could challenge the $0.16 resistance

Cosco heading to 0.97

CoscoCorp=$0.92 (Crossed resistance at $0.90.. heading towards 100 DMA at $0.97)

CoscoCorp = $0.75 (Support at $0.765 broken)

target $0.60....

CoscoCorp still the only green counter

Once break support at $0.765....target $0.60

CoscoCorp may go higher

CoscoCorp=$0.88 (Grenline to cut yellowline...may go higher

CoscoCorp=$0.83

Alert - Volume expanded to 38mln by half day