Traded 1000 Lots of Cosco the other day when there was a great attempt for the stock to move up. The stock had been slumping down recently since the acquisition news and it seemed like even when the official good news was released, there were still sellers dumping the shares furiously.
http://www.straitstimes.com/business/companies-markets/cosco-hits-acquisition-threshold-aims-to-delist-cogent
In the minute chart, it seemed like a bounce up is imminent. The stock had definitely reached a critical demand zone where the big buyers might emerge anytime. It looks like a rebound is soon but I can't say for sure when and what price as there still isn't a convincing steady increase in the buying activities. Until I see that behavior, I will not add on more positions for now.
Ronald K - Market Psychologist - A Stock Market Opportunist
