Hoo8899
Senior Member
- Joined
- May 17, 2010
- Messages
- 892
- Reaction score
- 4
I have been avoiding shipping counters in the past years because of the weak freight rate and oversupply of vessels. Many great names fall, we have the largest U.S. tanker operator (Overseas Shipholding Group), the Britain's oldest shipping company (Deiulemar Shipping), Indonesia's largest oil and gas shipping group (Berlian Laju Tankers) and many more.
So what make Cosco a different one that worth to mention?
1. It rose from 2.50 to 8.0 within half a year
2. It dropped from 8.0 to 2.50 within 4 months and continue to 80c within the next 8 months
3. we have about 70c the lowest level post lehman's bankruptcy, now it is about a dollar
Seems that it is very volatile, which is good for speculators.
Let's look at the chart:
Triangle breached, 200MA breached with high volume (not shown in chart), touching the 10-years support line and bounced upwards, first target 1.40, next 2.00.
If it makes few dollars higher in the next 3 to 6 months, then it will be another historical move for Cosco.
Loaded a small positions with the intention for speculation only, time frame 1 week to 1 year depending on the stock performance and market sentiment.
So what make Cosco a different one that worth to mention?
1. It rose from 2.50 to 8.0 within half a year
2. It dropped from 8.0 to 2.50 within 4 months and continue to 80c within the next 8 months
3. we have about 70c the lowest level post lehman's bankruptcy, now it is about a dollar
Seems that it is very volatile, which is good for speculators.
Let's look at the chart:
Triangle breached, 200MA breached with high volume (not shown in chart), touching the 10-years support line and bounced upwards, first target 1.40, next 2.00.
If it makes few dollars higher in the next 3 to 6 months, then it will be another historical move for Cosco.
Loaded a small positions with the intention for speculation only, time frame 1 week to 1 year depending on the stock performance and market sentiment.