COSCO Corp (S)
Business: Ship repair, ship building & marine engineering
Technicals: It is a bit difficult to show COSCO's chart in the proper perspective. Its high was $8.20 in OCT 07 and it came crashing to $0.60 in OCT 08. It has since been climbing slowly, but in a volatile fashion, to $1.92. I attach a short term chart to show that there is resistance at $1.93 and it is now trying to breakout of that price today.
If COSCO manages to breakout of $1.93, my next upside target will be $2.18 (the 161.8% fibonnaci level from the previous swing low of $1.53.
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