Monday, December 23, 2013

another imminent breakout?

Will Dryships (DRYS) break out to a new recent high and confirm a change in the long term trend?
It looks likely.
I would characterize the previous run up as short covering rally. From here a rally should represent a change in the outlook for this company, and the sector in general, to a more positive one.

The Baltic dry index has changed trend. So the earnings of the dry bulkers should have substantially improved.

This is a weekly chart and as such represents a longer term outlook.

control risk,

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