[Dow Jones] Cosco (F83.SG) off 3.1% at S$3.46, tracking weakness among other SGX-listed China plays (FTSE ST China Index down 1.4%). On charts, RSI and Money Flow Index show recent strength waning slightly ever since stock hit May high of S$3.70 earlier this week. Even so, Cosco still trading within ascending triangle pattern in place since early April. If market turns up and volume increases, stock could possibly breach triangle formation, which puts near-term resistance at around S$3.70. If that happens, next hurdle of S$3.85 (April''s highest close) likely to give way easily. Support for now tipped at 20-day moving average of around S$3.41.
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