Cosco Corp issued a profit warning statement in recent weeks, which triggered a string of downgrades by various research firms causing Cosco Corp to face selling pressure. Cosco Corp has just broken a technical support level at $0.93 which signals an end to the short-term uptrend. The $0.93 level may now become a potential resistance level especially since the 50-day moving average is trading around the same level. The key support level for Cosco Corp may be at $0.66. Failure to hold at this significant support level may indicate further downside as this level had been tested two times in Oct’08 and Nov’08 respectively. A bearish DI crossover is seen in the ADX indicator signifying possible downside.