SBLK opportunity to enter long?
This is a marine shipping company based in Greece that specialises in commodity bulk shipping.
It has been in steady uptrend since Feb 2021. Interestingly on 3 May, there was a spike in volume to push the price into the range between $20.50 to $23.30.
Although there was a pull back to $18.40, but prices has since moved up from 7 June onward.
If price can sustain above $23.30, which is also the 52 weeks high, next target is around range of $40.
The nearest support is at $20.60.
It has been in steady uptrend since Feb 2021. Interestingly on 3 May, there was a spike in volume to push the price into the range between $20.50 to $23.30.
Although there was a pull back to $18.40, but prices has since moved up from 7 June onward.
If price can sustain above $23.30, which is also the 52 weeks high, next target is around range of $40.
The nearest support is at $20.60.
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