EDRY EDRY just came to the end of its double bottom and now i'm watching the build up. I'm waiting to see what it does after this build up/accumulation time. We need to be patient to see whether to go long or short, in a long-term position.
To short:
It needs to close under $15 on the daily chart for a short to $11.
To long:
It needs to close above $21.50 on the daily chart for a long to $32
EDRY trade ideas
EDRY 1M SHORTtest
Eurodry Ltd. engages in the provision of ocean-going transportation services. It owns and operates drybulk carriers that transport major bulks such as iron ore, coal and grains, and minor bulks , which includes bauxite, phosphate, and fertilizers. The company was founded on January 8, 2018 and is headquartered in Athens, Greece.
$EDRY Low float stock tecnically ready to spikeI like stocks like this one. Recently this formation has been popping up on my radar and it works like a charm. Very low-risk investment, in the booming industry. Shipping rates have been skyrocketing lately and with delays in the Suez canal, they will stay elevated for a while.
For my business, I am often ordering different products from all over the world in containers. Recently I was shocked by the rates for some of the routes. With lots of delays and products running out in many stores people are forced to pay much higher and it will be here to stay for a while. That is why I see this entry very safe bet. First, everything lined up on the chart, and then the fundamental situation looks very bright for this company.
With OS at only 2.29M and insiders holding half plus institutions over 10%, this stock can have a major spike. Next ER should be significantly improved, forward PE is projected at 4.3. If you one of those who know what to do, good luck. For others, good luck chasing it or missing out. :)
EDRY Daily Bullish DivergenceHello,
What is EDRY?
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks comprising bauxite, phosphate, and fertilizers. As of March 31, 2020, it operated a fleet of seven drybulk vessels, including four Panamax drybulk carriers, one Ultramax drybulk carrier, and two Kamsarmax carriers with a cargo capacity of 528,931 deadweight tons. EuroDry Ltd. was founded in 2018 and is based in Maroussi, Greece.
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