The price pattern since May can be seen as a bear flag or a potential bearish ascending triangle wave pattern. The RSI not giving any indications either. In addition, the market 'may' be on verge of big correction and this is not a very strongly performing ticker.
However the price is at 200 SMA and there is likelihood of shipping sector having bottomed. From general reading on Seeking Alpha, I believe this is one of the most promising companies in the Deep Sea transportation group. The first target is to fill the long term channel. I do see this as long term hold though.
If stop loss is triggered, may take another position ~2 looking for a double bottom.
However the price is at 200 SMA and there is likelihood of shipping sector having bottomed. From general reading on Seeking Alpha, I believe this is one of the most promising companies in the Deep Sea transportation group. The first target is to fill the long term channel. I do see this as long term hold though.
If stop loss is triggered, may take another position ~2 looking for a double bottom.
Trade chiuso: stop raggiunto
Going nowhere!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.