Cosco Shipping International (Singapore)'s Share Price May Fall Toward S$0.145, Chart Shows -- Market Talk

Dow Jones07-24

0215 GMT - Cosco Shipping International (Singapore)'s share price may fall toward S$0.145, which was a prior horizontal resistance level in May, says Zane Aw, technical analyst at Phillip Securities Research, in commentary. The share price has been forming a series of lower high rebounds upon multiple tests of support at S$0.150, which gives a bearish signal, and it broke below an uptrend support line, the analyst notes. The moving average convergence divergence indicator also supports the bearish view with bearish momentum, the analyst adds. Shares are 1.3% higher at S$0.151. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 23, 2024 22:15 ET (02:15 GMT)

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The moving average convergence divergence indicator also supports the bearish view with bearish momentum, the analyst adds. Shares are 1.3% higher at S$0.151. 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