Cosco (technical)

Cosco: the stock has seen a decent bounce since bottoming out at $0.865 in mid May. While the indicators are tilting upward and suggest positive near term momentum, we note that the stock has yet to break out of its longer term downward trend. We would turn more bullish if the stock breaks above the 200day and 50day moving averages at $1.03 and $1.05 respectively, accompanied by higher volume. See support at ~$0.90.