COSCO SHIPPING Energy Transportation Co Ltd: Technical Buy Signals Promising Upside

Date: October 8, 2024
Broker: CGS International Securities Pte. Ltd.

Company Overview
COSCO SHIPPING Energy Transportation Co Ltd is a prominent energy transportation company, primarily focusing on shipping oil and other energy commodities. The company is part of the larger COSCO Shipping group, which is one of the world’s leading shipping companies.

Stock Performance and Technical Analysis
COSCO SHIPPING Energy Transportation Co Ltd is classified as a technical buy, with favorable price action and potential for growth based on the following technical details:

1. Entry Prices:

   • 0.93, 0.82, 0.68

2. Stop Loss:

   • 0.59

3. Target Prices:

   • Target 1: 1.10
   • Target 2: 1.16
   • Target 3: 1.24
   • Target 4: 2.10

Support and Resistance Levels

• Entry Points: Investors are recommended to enter at different price levels starting from 0.93, with a stop-loss placed at 0.59 to manage downside risk.
• Price Targets: The stock has significant upside potential with target prices reaching up to 2.10, indicating strong growth prospects.

Outlook and Recommendations
The technical indicators suggest a strong buy opportunity for COSCO SHIPPING Energy Transportation Co Ltd. With attractive entry prices and a favorable outlook, the stock is well-positioned to achieve its target prices. The company’s role in energy transportation and the positive technical setup provide a compelling case for potential investors.