Seanergy Maritime Holdings Corp. (SHIP)

[Longer Than Most]

Why some believe SHIP is poised to run in the coming weeks (technically speaking):

Golden Cross is Soon: Daily 50SMA (@$0.89) is approaching the 200SMA (@$1.02). The GC usually results in some serious price movement, followed by a longer term trend reversal to the upside. I think this is a big reason why some investing groups have set a target price of $1.5-2 and why the price has seen such strong support recently. The GC is in sight! A couple big days can pull that 50SMA up and make the cross happen much sooner than people might expect so I think it is just a matter of time.

SHIP Regains Nasdaq Compliance: Once the price closed above $1, it held above it with strong support for 10 straight days. The news was finally released today. This should give more confidence to potential investors.
http://www.seanergymaritime.com/en/news/press-releases/article-001DE56765

The Baltic Dry Index (BDI): The BDI covers prices for transported cargo. The prices are surveyed daily around the world. The BDI hit a low of ~$300 back in Jan/Feb of 2016. Since these prices have such an effect on the overall success and financial strength of shipping companies, they also play a role in the public value of said companies.
Recently, the BDI has seen a Golden Cross itself just last week, which has signaled an overall trend reversal. It made a nice bottom at 1175 a few days ago around the time of the crossover and now the BDI has only gone up since and is sitting at $1296. It looks to be on its way to test the 1 Year High at 1350. And we all know that 52 week highs generally lead to more 52 week highs. To add to that, 1350 is the highest price it has hit for 2 year so a 2 Year high isn't anything to complain about!

SHIP Broke Above the Ichimoku Cloud (Daily): It gapped above the top of the cloud at $0.97 and hasn’t looked back.

Price has Gotten Above the 200SMA: This can definitely be a big point of resistance for stocks approaching the Golden Cross and it can often act as a roof that can even fully reverse a stock's progress and send it down further. In SHIP’s case, the 200 acted as resistance for a while and the price definitely faced the threat of dropping below $1 for another sustained period of time.
When the price held above 1 but below the 200SMA, I believe it prevented SHIP from getting insanely overbought like the last run to 1.2. This allowed for more consolidation than expected (in my opinion) and only strengthened SHIP going forward, despite how much of nail biter it was when it was walking the fine line at $1. Now, the 200SMA sits at $1.02, well below the today's close of $1.17 and more of the chart has freed up.

SHIP was Heavily Oversold: Earlier this year it hit $8, and months later it bottomed out at half dollar. Many bottom watchers were probably expecting some sort of reversal at this point. SHIP has some serious potential if some of the bigger gaps start getting filled and this gathers real momentum.

There is no telling what happens, but I thought I would point out the few things that stood out to me. These are mainly technical aspects and do not take in the all aspects. That being said, I have seen many many setups similar to this where all it really took was a couple of SMAs and other indicators to line up, in order for a small cap, bottomed out ticker to get some legs and start running. Invest wisely and GL!

~SP~