CTRM High Tight Bull Flag in Consolidation LONGCT
CTRM jumped about 20% with earnings in my idea published as that was occurring.
It is now in consolidation for two days on the 30 minute chart in what appears to be
a high tight bull flag pattern. These patterns are typically predictive of a bullish continuation
with decent reliability. The continuation can can be as much as the height of the flag
pole which is about 0.13 and so a continuation could be in the neighvborhood of 13/57
or about another 22% higher.
My trading plan is I will buy when price breaks above the flag's parallel channel with a stop
los below the channel. If there is a breakdown I will consider going short with a stop loss above
the parallel channel. Longside my target will be 20%. If I go short, I will target a 50%
retracement and so about 10%. For the time being, CTRM is on my penny-stock watchlist
as a long trade.
CTRM
CTRM Jumps Today Reports in the MorningOn the 15-minute chart, I see CTRM as being well-positioned among traders for
high volatility on the report of earnings. The pump today has printed a tight flag
pattern with consolidation this afternoon. If earnings are okay or even better I see
this penny stock making another 10-15% move just like today. If on the other hand,
if there is a miss, a drop of 5-8 % as a retracement could easily unfold ! The meat of
the matter, is reading the price action and volumes in the premarket and preparedness
overall. Stop loss 0.497 below the Doji candle. First target 10% second 15%
CTRM - Castor Marine ER playCastor Marine MC is less than half of assets. Meanwhile, they have record revenue and profits Q over Q and Y over Y. In short, they're making a killing. They ended their ATM in June. There is no need to raise additional funds and can easily make plays for additional vessels with cash flow. The company is likely considering dividends at this point and should be coming by early 2023 (latest), if not in Q3. Longer term descending triangle in play with termination near early August ER. MAs getting tightly packed and average volume has slowly decreased over the past 6 months. Bottom is in and looking to break out and fill gap above between $6.03-7.20.
CRAZY OPPORTUNITY! 😈 Hi there, Yurii Domaranskyi here.
Risk vs Reward = 1 to 44.83 ✨
It means if you risk here 100$ you may make 4483$ Not bad, huh?
Revenue of $54.64M (+683.9% Y/Y).
EBITDA $27.9M for the three months ended March 31, 2022, as compared to $2.6M for the three months ended March 31, 2021; and
Cash and restricted cash of $84M as of March 31, 2022, as compared to $43.4M as of Dec. 31, 2021.
Strong tailwinds are coming for CTRMSince the R/S CTRM has dropped hard, and I suspect it is heading down to close the smallest gap I’ve ever seen but nonetheless still a gap. While it is true that not all gaps needs to be closed before price can move in another direction (all depending on the different types of gaps) this gap however I do believe will be closed. It is lined with orange color. CTRM has been extremely successful closing new leases and expanded its fleet under Covid-19. The ERs are very impressive and they indeed indicate that a strong up move is on the way. My PT for ultimo 2023 is $28.
Not financial advice. Do your own DD.
ADDED to $CTRM New Target 1.17 for 63.75% $CTRM Target 1.17 for 63.75%
Or next add level is at .26
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
Castor MaritimeMission Statement:
We are a growth-oriented global shipping company engaged in the seaborne transportation of a wide range of commodities along worldwide shipping routes through our ownership of dry bulk and tanker vessels.
Recent News
1. Limassol, Cyprus, April 9, 2021 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the
“Company”), a diversified global shipping company, announces that it entered, through a
separate wholly-owned subsidiary, into an agreement to purchase a 2011 Japanese-built
Panamax dry bulk carrier from an unaffiliated third-party for a purchase price of $18.48 million.
2. “We are pleased to announce the successful delivery of the M/T Wonder Sirius, the second of
our two Aframax LR2 tankers. These timely acquisitions into the tanker sector diversify our
revenue sources while the attached charters provide us with cashflow security throughout 2021.
Our two tankers are projected to generate in aggregate, assuming no off-hire days,
approximately $10 million of gross revenues for the minimum scheduled period of the charters,
or approximately $21 million should the charterer exercise their options to extend both charters
by an additional one-year term. These figures do not take into account any profit sharing that
may apply above the minimum daily hire of $15,000.”
3. Limassol, Cyprus, March 19, 2021 – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the
“Company”), a diversified global shipping company, announces that on March 17, 2021, it took
delivery of the M/V Magic Orion, a 2006 Japanese-built Capesize dry bulk carrier, and on March
18, 2021, it took delivery of the M/V Magic Argo, a 2009 Japanese-built Kamsarmax dry bulk
carrier, pursuant to the transactions previously announced on January 20 and February 3, 2021,
respectively. Both acquisitions were financed in their entirety with cash on hand.
The M/V Magic Orion is expected to commence employment under a time charter contract on or
around March 20, 2021, at a daily gross charter rate of $21,000 and an expected term of about
35 days. The M/V Magic Argo is expected to commence employment under a time charter
contract on or around March 21, 2021, at a daily gross charter rate of $25,100 and an expected
term of about four months.
*Not Financial Advice
What do you think?
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$CTRM Target 1.33 for 52.14% Or next add level is at 0.41$CTRM Target 1.33 for 52.14%
Or next add level is at 0.41
On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
CTRM (NYSE) - Go to BullishGreetings
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Strategy
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CTRM (NYSE) - Go to Bullish