DRYS Daily Chart ~ Time for a Look as DRYS Might B
Post# of 2559
Posted On: 11/26/2013 11:35:29 PM
DRYS Daily Chart ~ Time for a Look as DRYS Might Be Moving Up for Its Next Run
As the global economies continue to gradually get better, shipping stocks are showing renewed strength. A few of us own DRYS at various levels from the mid 2.00s into the 3.10s before the stock hit 4.00 and corrected to 2.65. With the FullSto and MACDs crossing over in early November, a few added while I watched. The declining tops line appears to be broken with the trading of the last two days. With any increased buying volume tomorrow, DRYS will probably confirm a breakout. I will probably be adding a few shares tomorrow. The first levels that need to be hit are 3.20 and 3.49. A new high of 4.00+ could be seen over the next few weeks should the shippers continue to recover. A large amount of volume during the 30 day leg in late Aug to late Sept. That bodes well for this leg as long term positions by institutional investors will probably not be sold for a break even trade. GLTA
As the global economies continue to gradually get better, shipping stocks are showing renewed strength. A few of us own DRYS at various levels from the mid 2.00s into the 3.10s before the stock hit 4.00 and corrected to 2.65. With the FullSto and MACDs crossing over in early November, a few added while I watched. The declining tops line appears to be broken with the trading of the last two days. With any increased buying volume tomorrow, DRYS will probably confirm a breakout. I will probably be adding a few shares tomorrow. The first levels that need to be hit are 3.20 and 3.49. A new high of 4.00+ could be seen over the next few weeks should the shippers continue to recover. A large amount of volume during the 30 day leg in late Aug to late Sept. That bodes well for this leg as long term positions by institutional investors will probably not be sold for a break even trade. GLTA
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