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Registered User
Joined: 1/20/2007
Posts: 8
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Hello everyone,
Could anyone please comment on DRYS ? All comments appreciated...
Thanks in advance!
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Registered User
Joined: 12/21/2004
Posts: 902
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I am huge on DRYS and the shipping industry in general. It has rebounded very nicely from the July/August trouble. TSV26 has stayed above 0 throughout and OBV, MS, and OBV all rose nicely as it recently made new 52 wk highs. It is also travelling very nicely along a 30LR (with support along the 30LR - 25width line).
The only dampers I see in the things I look for is that the MACD-H on the most recent high did not go higher than during the July highs. It's also had some nice interaction with and support at the 13ema - which is where it is now after a nice pullback - and the fact that 3 of the last 9 days have been down on heavier than average volume. This may be a harbinger that this may be more than just a small pullback, so I'd keep on eye on support lines depending on your risk tolerance.
I feel that longish term DRYS is a good stock in a good industry - pick a support area
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Registered User
Joined: 1/20/2007
Posts: 8
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Thanks for your comments and analysis, appreciated..
Would you have a buy point after some consolidation ?
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Registered User
Joined: 12/21/2004
Posts: 902
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Yes, but everyone has their own methods of determining entry points - pick a support level and buy after price rises above that or buy after MACD-H rises above 0, or some other indicator indiates entry. All depends on each individual's own style and goals.
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