AI
Wednesday, June 19, 2013 10:25:45 AM
Shipping Stocks Alert 6-17 update, NEWL +105% has popped on the biggest volume ever of 8.6+ million shares (average 819k). What ever the reason, the price is sitting right on the 50 day moving average at $.29-$.30 the high of the day. I suspect with this volume, momentum will carry it higher to resistance at $37-$.39. Target is $.44, then $.60 in the near term. Price precedes news, so maybe something is afoot we know nothing about, but somebody must.
FRO gapped up on huge volume and hit right on my first line of resistance at the 5-22 high of $2.55, up from a close on Friday at $1.87. First target is the March high at $2.62, then a gap from February between $2.74 and $2.90, (the 200 day moving average line.
FREE hit a high right on the 20 day moving average at $.65, closing at $.60. First target is $.82-$.84, the 50 day moving average. Volume was 4x average. Stochastics for all 3 are between 31 and 44, so there is plenty of room on the upside before any are overbought.
It will be very interesting in the next few days to see what made these 3 of 9 shipping stocks (FREE, NEWL, FRO) pop so much when the rest of the sector was a ho-hum day.
FRO gapped up on huge volume and hit right on my first line of resistance at the 5-22 high of $2.55, up from a close on Friday at $1.87. First target is the March high at $2.62, then a gap from February between $2.74 and $2.90, (the 200 day moving average line.
FREE hit a high right on the 20 day moving average at $.65, closing at $.60. First target is $.82-$.84, the 50 day moving average. Volume was 4x average. Stochastics for all 3 are between 31 and 44, so there is plenty of room on the upside before any are overbought.
It will be very interesting in the next few days to see what made these 3 of 9 shipping stocks (FREE, NEWL, FRO) pop so much when the rest of the sector was a ho-hum day.
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