Long
Long $DRYS
DDRYS created a large cup and handle throughout today and 30 minutes before close it had a B/O of its resistance at 0.58. Also this had heavy volume today and the days before have been in a grinding action and getting tighter which is a good sign. This ticker also has a history of decent spikes with the price range and the sector is doing quite well.
I'm looking for a spike tomorrow and maybe the next day to make it to the MA 50 line but all depends if this gets the right volume pumped in but considering the volume piled in 30 mins before the close I can see people putting this on their watchlist to buy and even jumping in pre-market.
Also the RSI has just come from the oversold region and is pointing rallying up in a nearly 90 degree angle including the OBV and the MACD is also working its way upwards nicely towards the 0 line. Also noticed the ADX are about to cross and with the DI in the trending region above 40..
So all in all this looks like a good play tomorrow and even the next day depending what tomorrows price action says.
I'm looking for a spike tomorrow and maybe the next day to make it to the MA 50 line but all depends if this gets the right volume pumped in but considering the volume piled in 30 mins before the close I can see people putting this on their watchlist to buy and even jumping in pre-market.
Also the RSI has just come from the oversold region and is pointing rallying up in a nearly 90 degree angle including the OBV and the MACD is also working its way upwards nicely towards the 0 line. Also noticed the ADX are about to cross and with the DI in the trending region above 40..
So all in all this looks like a good play tomorrow and even the next day depending what tomorrows price action says.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.