SHIP Retraced...Now What?SHIP retraced back to the 50 fib finally, bounced and now attempting to get back to the 236 area but recent volume has ben lighter than in previous weeks. As it approaches this area yet again, I think volume will ultimately dictate the next move. Sure, you've got supply chain bottlenecks and higher prices for shipping specifically to Capesize vessels. However, industry fundamentals have their tipping points.
Seanergy isn’t vocal via its newswire; however, its Twitter feed has become a soapbox of sorts. The company has made it known that there’s a significant value in Cape vessel rates right now. A recent tweet explained that cape vessel rates were $75k/day and that “SHIP has unique benefit through index-linked contracts for most of the fleet.”
Other than that, SHIP stock price movement has reflected a similar tone in a direction that other reopening stocks have seen.
SHIP Stock Forecast
Maxim is the most recent analyst to weigh in on SHIP stock. The firm upgraded its rating to Buy and announced a $2.50 price target . Based on open prices on October 8, this target is 78% higher.
Shippingstocks
Shipping - GNKModel has given entry signals for Genco Shipping & Trading Limited:
- "Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities. As of February 24, 2021, the company fleet consisted of 17 Capesize, 9 Ultramax, and 15 Supramax with an aggregate capacity of approximately 4,421,000 deadweight tons. Genco Shipping & Trading Limited was incorporated in 2004 and is headquartered in New York, New York." - Yahoo
- We expect a boom in the shipping and freight sector with the pandemic backlog, and nations increasing their industrial production to meet new initiatives.
- We are very excited about opportunities in the commodities and shipping sectors, as we believe a macro turn is approaching in the nearest future.
- Technically has broken out of a channel, it may retest the median line, which will provide an entry, and is possibly finding a new channel top.
GLHF,
DPT
Disclaimer:
We absolutely do not provide financial advice in any shape or form. We do not recommend investing based on our opinions and strongly cautions that securities trading and investment involves high risk and that you can lose a lot of money. Loss of principal is possible. We do not recommend risking money you cannot afford to lose. We do not guarantee future performance nor accuracy in historical analyses. We are not registered investment advisors. Our ideas, opinions and statements are not a substitute for professional investment advice. We provide ideas containing impersonal market observations and our opinions. Our speculations may be used in preparation to form your own ideas.
Macro - BDRYModel has given entry signals for Dry Bulk Shipping:
- The investment seeks to provide investors with exposure to the daily change in the price of dry bulk freight futures.
- We expect a boom in the shipping and freight sector with the pandemic backlog, and nations increasing their industrial production to meet new initiatives.
- We are very excited about opportunities in the commodities and shipping sectors, as we believe a macro turn is approaching in the nearest future.
- Technically has broken out of a channel, retested the support possibly finding a new channel top.
GLHF,
DPT
Disclaimer:
We absolutely do not provide financial advice in any shape or form. We do not recommend investing based on our opinions and strongly cautions that securities trading and investment involves high risk and that you can lose a lot of money. Loss of principal is possible. We do not recommend risking money you cannot afford to lose. We do not guarantee future performance nor accuracy in historical analyses. We are not registered investment advisors. Our ideas, opinions and statements are not a substitute for professional investment advice. We provide ideas containing impersonal market observations and our opinions. Our speculations may be used in preparation to form your own ideas.
$ZIM LongLong term still long AF on ZIM but it seems we have gone up too fast for a traditional stock and rejected all time highs.
I see a short term correction based on MACD and RSI needing a cool off..
Dips continue to be for buying until something changes on a macro level so I am looking to long support around $44.
Freight market insight
www.nytimes.com
www.reuters.com
Under the hood of RIG with an eye toward 7/16big brain time, fintwit...
How is WISH going to deliver orders without oil and boats or whatever?!
Spoiler alert: they're not.
Enter: RIG (honorable mention: SHIP)
At heart, I guess RIG is an oil play.
As usual I'm going to spare you the deep RIG backstory and assume that you found this idea because you've already done some research of your own.
There's been a lot of insider buying happening with RIG recently and it looks like the chart is in a nice pattern too.
Don't forget, none of this is financial advice and I'm on my second June Shine of this Sunday afternoon. Moving on.
In my perfect genius opinion, a FAVORABLE CHART + INSIDER BUYING reflects positively on the probability of RIG breaking out above 4.80 and fighting for 5.00 before the July 16 options expiry date.
I threw up some options data as well, I probably won't update those numbers past today (Sunday 06/27/21), so do your own DD.
Anyway, you guys are my best friends. Bye.
Filling The Gap GOEDFinally back in the gap on GOED with strong volume to start the week. New coverage from ThinkEquity puts a Buy and $12 target on the stock. I think now it comes down to continuation and follow-through. Secular trends will likely start playing a bigger role if or when it breaks back through this gap.
"Q2 has been a strong quarter for 1847 Goedeker. Since May, GOED has seen record growth in its revenue. Up over 41%, it has increased written orders by over $28 million which is no small feat. It is currently one of the leaders in the online retail industry for online household appliances. With acquisitions underway as well as a plan to implement new shipping strategies, Goedeker is an exciting penny stock to watch."
Quote Source: 7 Top Penny Stocks to Watch Right Now With Big News
RIG Continues In Its ChannelI put this RIG chart together earlier this month and it continues to hold true. No major consolidation just a channel trade with higher lows getting put in. With global shipping becoming a bigger point of interest right now RIG could be one to watch (assuming they don't do something stupid like raise money at a drastic discount).
"the oil demand this year has only started to rise in the past six months. This is a clear reflection of the effects of the pandemic coming to an end. While no one knows exactly when the pandemic will end, it looks like people are beginning to resume travel internationally and domestically. For this reason, many investors are betting on the future of the energy industry. Whether this is enough to make RIG stock worth watching is up to you."
Quote Source: Hot Reddit Penny Stocks to Buy? 10 That You Should Know About
Extended Wedge Bullish Bearish Neutral?It's a very wide wedge right now so lots of room to fluctuate. Will the reopening trade momentum act as a catalyst for another rebound or will NAT just chill here forever?
In its Q4 and full-year 2020 update, The company said that “We see strong oil demand, in particular from Asia for 2021…The lock-downs around the world has led to pent-up demand for many goods and services that will flourish once the vaccination program gains momentum this year…The demand will, unlike wars and financial crisis, be met by an unharmed physical and financial infrastructure that is ready to deliver on all cylinders.”
Quote Source: 5 Penny Stocks For Your March 2021 Reopening Watch List
Minor pullback before heading higherFDX has had a remarkable run. With upward movement it may touch the top of the Bollinger band and then pull back to the EMA clouds / fib at 274.66. Whether before or after consolidation a fair short term price target is the fib extension above. However worth noting it is oversold and may need to consolidate.
Global Shipping Equity recovery?Thanks for viewing,
I am just posting this to make tracking the equity easier. If you ignore the massive 1 month spike in price and volume (10x volume) that would otherwise invalidate my EW count, the main downward price trend seems to be over. If I average in, I will have to be able to withstand price drops possibly to $3 and keep buying, but after that there is significant upside.
I don't know what will happen to the global shipping industry. All I know is that EW points to the correction is over and the movement trend (despite inevitable volatility) I expect to be generally upwards over the medium-term. I am always looking at "bad news" unloved industries to see if there is value.
Also very low PE and price to book value ratios.
There also may be a swing in investor sentiment to real assets, Companies that actually mine, move, or make necessary things (e.g. not leisure cruise ships or over-leveraged airlines) If that happens, investors will find a Company trading at around a 70% discount on net assets. I would be more willing to invest in that as a store-hold of wealth than negative yielding government bonds. While, not as attractive as bullion or gold miners, it seems still better than bonds.
Protect those funds
PS; No fundamental analysis was conducted, no reports looked at etc. Liability disclaimer etc etc I am not long, but will look into it.
SHIP UPDATEUpdate on this Stock.
For you guys the buy limit should have been triggered if you put it @ 0.125$
Sad enough I lowered my buy limit to @ 0.115$
so far it has not been triggered.
If we break 0.19$ It could go to the first sell point.
For now i'm hoping on a pullback to the 0.11$- 0.12$ level.
I will keep this updated.
- The company has also anounced some good news.
Nordic American Tankers $NAT Long SetupFundamental Analysis:
Overall shipping stocks are bullish, with gas prices so low and people ordering like crazy off their government checks. It definitely will be my next move in terms of hedging against this Covid crisis. I'm not putting any price targets because the situation is very dynamic and I will most likely take profits depending on how this plays out.
Technical Analysis:
Gonna keep it short on this one but it is a good time to get in for a long term play. With the ascending triangle forming on the 1H timeframe, we can expect the whole shipping market to keep pumping throughout this crisis. Cheers and feel free to share your thoughts!
Diamond S Shipping (DSSI) short.All description on the chart.
Please, don't forget to like and follow.
Thank you.
$SHIP Shipping Sector Breakout Winner along with $DRYSShipping sector is about to go bonkers with the BDI moving north in addition to possible Exxon news. $DRYS being the obvious leader has been a good predictor of movement. Right now $DRYS is breaking out of its downward trend and $SHIP with the incredible news of getting rid of their debt vehicle yesterday is poised to be the one right behind $DRYS to make significant gains. Here are the current techs.