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Cosco exec warns on slowing China ore imports
London: A senior executive with China COSCO Holdings Co Ltd has warned on slowing iron ore imports to China. Simon Young, chief executive of COSCO UK, a unit of China's top shipping conglomerate, said China's iron ore imports dropped last year for the first time. " It was only a 9 million tonne reduction, but that could be a very strong signal," he told a Navigate shipping conference. " Throughput at the ports also show signs of slowing down." Young said overall throughput at Chinese ports saw growth of 14.3 percent in the first quarter of this year compared with almost 20 percent for the same period last year. [08/06/11]
Look at 5 years historical Chart and you will know!
catalyst ( Date: 08-Jun-2011 21:26) Posted:
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A few month later,many people will say why never buy coscorp at 1.85 ^1.88!
Very sure!
The imminent 1.81 coming soon?
Question is also, will it break that as well?
Look at YZJ today as well. Uncertain for rebound.
Isolator ( Date: 08-Jun-2011 15:49) Posted:
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Cosco has break down.... A big correction is coming....
Nowadays, contract announcements dont mean much for price actions.
krisluke ( Date: 08-Jun-2011 09:55) Posted:
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ya 1.81 looks like a good price to buy
catalyst ( Date: 08-Jun-2011 12:49) Posted:
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Looks like Cosco is not set to rebound yet if close in red today.
Retest support 1.81 soon? Maybe a chance to enter there.
faster shoot shoot shoot..
master alex.. quick shout shoot cosco.. shoot cosco !
I always short when others buy... lol
alexchia01 ( Date: 08-Jun-2011 10:53) Posted:
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May not be late to you, but too late for me.
Isolator ( Date: 08-Jun-2011 10:40) Posted:
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Nvr too late to short.... low get lower
alexchia01 ( Date: 08-Jun-2011 09:50) Posted:
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Cosco: Cosco (Zhoushan), a subsidiary of the co’s 51% owned Cosco Shipyard Group, has secured a US$26m contract from a SE Asian co to build one 32k dwt semi-sub barge. Delivery is scheduled for 2Q12.
Stock has a mix of Street ratings, with wide TP ranging btwn $1.57-2.86...
Technically, stock may see a rebound in the near term, with negative divergence appearing on the RSI and MACD histogram since mid-May. Hooking up of the fast-Stochastic from current oversold levels should provide further confirmation for a bounce. Near term support at $1.80, resistance at $2.
Stock has a mix of Street ratings, with wide TP ranging btwn $1.57-2.86...
Technically, stock may see a rebound in the near term, with negative divergence appearing on the RSI and MACD histogram since mid-May. Hooking up of the fast-Stochastic from current oversold levels should provide further confirmation for a bounce. Near term support at $1.80, resistance at $2.
It's too late to short and too early to buy.
If you are not in already, better to stay by the sideline.
Rebound is opportunity to sell or short or both...
Finally no choice have to pick Ikanbelis to eat ????
Peg_li ( Date: 07-Jun-2011 20:36) Posted:
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Peg, did u buy your cosco at nearly $8?
Peg_li ( Date: 07-Jun-2011 22:21) Posted:
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On Tuesday, Cosco re-test the resistance at $1.90 and closed at $1.88 with LOW volume of 16.8 million shares traded.
A white candle stick with short upper/lower shadow affirms that investors are still indecisive on the future direction of Cosco.
Both RSI & MACD are flat as RSI trend sideways.
Important Resistance of Cosco: $1.90
Immediate Support of Cosco: $1.81
Currently prices are well below 20/50/100/200 days MA.
Although prices.......... READ MORE
Of course not based on today's contract.
but based on the whole year contract and its more strong presence in offshore business beside its dry bulk business.
rotijai ( Date: 07-Jun-2011 22:26) Posted:
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this contract comes.. a bit too early..
y cant they just hold it for another 1-2 weeks :/
uptrend or downtrend or watever trend.. let the stock to decide and we bet :)
Peg_li ( Date: 07-Jun-2011 22:21) Posted:
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