surfingthetrend
New Member
Cash: $ 1.45
Posts: 6
Joined: 10 May 2012
|
| Diana Containerships - Technical Analysis |
 |
|
This title is currently presenting an interesting setup. With a fall of over 60% in about three months, it now seems to start stabilizing. After the descending trendline brake it started a triple bottom, based on a support at $ 4.69. This support was strong enough to withstand two attacks after the Lower-Low, further resulting in an extremely powerful upward movement of 57% a month, only slowed by a previous resistance.
When the movement seemed exhausted and falls seemed to be back, it formed an island reversal that led to a new upward movement and consequent resistance break.
Currently negotiating this title proves to be relatively simple, since it is over a support area and far from relevant resistance areas. One approach to the support can be used to a low risk entrance, as the exit zone would be very close. On the other hand, the retest could mean a slowdown in the upward force, which is not always a good sign. Anyway, with such a cost / benefit ratio it is definitely to keep an eye on it.
|
