Cosan Limited, engages in sugar and ethanol, fuel, logistics
services, lubricants, and piped natural gas businesses primarily in
Brazil, rest of South America, Europe, the Middle East, Asia, and North
America. The company’s Raízen Energia segment produces and markets
various products derived from sugar cane, including raw sugar, and
anhydrous and hydrated ethanol. Its Raízen Combustíveis segment
distributes and markets fuels, primarily through a franchised network of
service stations under the Shell and Esso brands in Brazil. The
company’s COMGÁS segment distributes piped natural gas to customers in
the industrial, residential, commercial, automotive, thermogeneration,
and cogeneration sectors in part of the State of Sao Paulo. Its Cosan
Log segment provides logistics services for transport, storage, and port
loading of commodities, primarily for sugar products. The company’s
Radar segment is involved in buying, managing, selling, and leasing
agricultural land. Its Lubricants segment produces and distributes
lubricants under the Mobil and Comma brands.
Take a look at the 1-year chart of Cosan (NYSE: CZZ) with the added notations:
APA took a steep drop back in the fall of last year. When the stock
finally bottomed in December, CZZ ended up finding support at $6.00
(green) over the next 6 months. Now that the stock appears to be falling
back down to that support level again, traders should be able to expect
some sort of bounce. However, if the $6.00 support were to break, lower
prices should follow.
The Tale of the Tape: CZZ has an important level of
support at $6.00. A trader could enter a long position at $6.00 with a
stop placed under the level. If the stock were to break below the
support a short position could be entered instead.
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