SBLK - 220% plus / R:R 6:1SBLK - looks like Wave 4 is almost complete.
We are waiting for the wave 5 of C
Dry
Golden Ocean OverviewGolden Ocean has managed to get above a previous tough resistance zone and attempted to break out further.
The first attempt failed.
So far have GOGL managed to stay above the previous resistance zone at about 4.
Baltic Dry Index has rallied more than 300 % since its bottom while GOGL has "only" rallied about 67 % so far.
There should be a further upside potential in this stock that has corrected significantly the last years.
The company delivered better than expected 3Q results. Along with outlook on further improvement in bulk rates, should encourage the stock to stay above the support zone and have a new attempt of challenging the next resistance/breakout zone.
Golden opportunity in Golden Ocean?Just look at the chart. It is self explanatory :) Breakout from a long consolidation triangle + breaking above the 100 EMA. Baltic Dry Index support this move.
