GOGL close to break outGOGL is consolidating inside the daily cloud, after breaking into it upwards.
The key now is the downward long term trendline (blue), it's eyeing this one at the moment.
If this breaks and retests, it's a buy from me for GOGL!
GOGL trade ideas
GOGL // BIG FALL Golden Ocean Group has fallen a lot, although it has crossed several support lines, the stock has not received support. GOGL is now below the last support line, which could indicate that the share will continue to fall.
Overall, the stock is in a very bad trend. This indicates sales.
This analysis should not be seen as advice but for inspiration
SPOOOKY Chart (GOGL edition) unfortunately I didnt have to be drunk in a bathroom to do these lines.... aha not funny just ...interesting
Golden ocean (drybulk): Plenty of time for consolidationThere was a Heavy oversupply in Drybulk. Downward, sideways until end 2019/2020 is my Outlook.
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 breakoutDry shipping is breaking out.
Golden ocean group is a major player in this industry.
The Baltic Dry Index is now above 1000.
Prepare for a massive move.
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.
