Chart Analysis » drys http://chart-analysis.com/stocks-etfs Trend Analysis for Stocks and ETFs Thu, 18 Aug 2011 20:36:10 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 DRYS Chart – April 1, 2009 http://chart-analysis.com/stocks-etfs/2009/04/01/drys-chart-april-1-2009/ http://chart-analysis.com/stocks-etfs/2009/04/01/drys-chart-april-1-2009/#comments Wed, 01 Apr 2009 14:25:33 +0000 Alex F http://chart-analysis.com/stocks-etfs/?p=64 DryShips Inc is part of the shipping sector in the Services industry. It is highly volatile and affected by the Baltic Dry Index which tracks dry bulk shipping rates. I charted DRYS pre-market on April 1, 2009

  • DRYS had a bullish crossover two weeks ago with its 10 and 20 day moving averages
  • DRYS has used its 10 day moving average for support for the past week
  • DRYS is at the bottom of its trend line and holding support at its line of higher lows
  • Resistance came from USO’s 50 day moving average a few days ago – that same line is due to come back into play and force a break of the trend line or the moving averages

Opinion = Wait to see which line wins, the 10 day and the trend line of higher lows versus the 50 day moving average.  Upside potential is greater than downside risk.

2009-04-01_drys

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