STOCKWATCH: COSCO International to test HK$1 to 1.1

COSCO International Holdings (0517) has sustained consolidating between HK$0.8 and HK$0.95 recently. The stock climbed up to re-test resistance at HK$0.95 Bolliger¡¦s upper band but still saw some resistance. Short-term is better to be cautious. If it should break through the resistance with sufficient turnover in short terms, the stock may come up to test another resistance zone at HK$1 to 1.1. Mid-term absorption can be made when it is still low. Supporting stance: HK$0.87. 

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