Performance Shipping is looking like a bull flag.
In the chart you can see im looking for a bounce at the 1.61 area then to the top of the range at 2.4 If the flag breaks then its targets are the flagpole height, which gives 4.77 or 0.85 the wix and rsi all favour to the upside taking 1 to 2 months going off previous range move.
Best to wait for a confirmed breakout before trading.
Im buying around 1.61 where i expect a bounce up to the range high of 2.4 thats a 50% increase. I see a 1 to 2 month upside swing to that range high. If the range high breaks upwards then i see several months upswing to the 4.77 area
Thoughts? Mark...
In the chart you can see im looking for a bounce at the 1.61 area then to the top of the range at 2.4 If the flag breaks then its targets are the flagpole height, which gives 4.77 or 0.85 the wix and rsi all favour to the upside taking 1 to 2 months going off previous range move.
Best to wait for a confirmed breakout before trading.
Im buying around 1.61 where i expect a bounce up to the range high of 2.4 thats a 50% increase. I see a 1 to 2 month upside swing to that range high. If the range high breaks upwards then i see several months upswing to the 4.77 area
Thoughts? Mark...