Now that Cosco has traded below the lower trend line (referring to the Cosco chart posted on 24/6/2008), it has turned bearish.

If it is able to close above 3.20 today, it is likely that it will hover around the lower trend line for a few trading sessions before it becomes clear where to head.

If it closes below 3.20 today, more lows are expected ahead.

This morning, when the market opened, Cosco gapped down to 3.20 from yesterday's close of 3.30. There is a chance that the gap will be closed before it moves further down.