Daily & Hourly Chart Analysis - COCO appears to be due for a price correction. The RSI, Stochastics and %R on the hourly chart have been overbought for some time now, the ADX Shows a weakening uptrend as evidenced by the rounded top on the hourly price chart below. There was recent and significant Tension in the MACD and it has now turned down signalling lower prices in the near term.
On a positive note, the hourly chart shows a BULL Market scenario and a strong uptrend so the coming price correction should be only temporary and not a market reversal. Since there is a rising wedge visible on the hourly chart, the drop in price could be significant perhaps to around $2.12 to perhaps $2.00 which is greater than your normal Fibonacci correction.
The Daily price chart shows a Head & Shoulder's Bottom Formation with the neckline broken indicating a strong possibility of continued rising prices after the price correction indicated on the hourly chart is over. It is a normal occurrence with a Head & Shoulder's formation for the price to return to the neckline following a breakout. The Neckline is in the vicinity of $2.00 at present.
News 
Market Data 
Discover 
