Amazing Cosco Corp trend

If you have horizontal lines for cosco corp chart at around 7.8, 6.8, 5.8, 4.8, 3.8, 2.8, you will see an astonishing trend even for a technical trend idiot like me.

Although there is a relationship that may not be causal, it can be a good indicator of the next top or bottom. This may indicate that it has a low probability of reaching another low of 1.8.

When Cosco announced a cancellation of order, the stock did not breach below 2.8. That was the bottom.

So ignoring other trend indicators, this simple indicator should be sufficient to say that the bottom for this stock has been reached. The price level is around the same now 1 year ago.

Even if the stock really reach 1.8, that would be the ultimate buying opportunity if the company's fundamentals remain the same, which means that it's core drivers such as ship repair and book order remains intact.

Which means that if the 2H rally materialise, this stock should rally to 3.8 and a breach could lead it to 4.8. We can predict the time it will materialise but we can see the "value" according to the trend.