$SBLK ready to push higher after printing a Pocket Pivot?
Notes/Thoughts:
* Broke out of $29.87 once again this time with tonnes of volume and a printed a pocket pivot!
* With increased hedge fund activity it makes sense to get in now
* Has the relative strength and the UD Volume indicating that it's ready to move higher
Technicals:
* Sector: Industrials - Marine Shipping
* Relative Strength vs. Sector: 11.25
* Relative Strength vs. SP500: 10.98
* U/D Ratio: 1.24
* Base Depth: 21.77%
* Distance from breakout buy point: 1.98%
* Volume 106.73% above its 15 day avg.
Trade Idea
* The idea here is to play the pocket pivot.
* The pocket pivot seems to be valid as it's emerging from the 10/20 EMAs
* This seems like a good entry as it broke out from $29.87 with tonnes of volume and we can expect it to continue higher
* Managing risk tightly as I don't want to lose more than 4% on this trade
* If you're looking for a better entry you can look for an opportunity around the $29.87 area and manage risk accordingly
* Broke out of $29.87 once again this time with tonnes of volume and a printed a pocket pivot!
* With increased hedge fund activity it makes sense to get in now
* Has the relative strength and the UD Volume indicating that it's ready to move higher
Technicals:
* Sector: Industrials - Marine Shipping
* Relative Strength vs. Sector: 11.25
* Relative Strength vs. SP500: 10.98
* U/D Ratio: 1.24
* Base Depth: 21.77%
* Distance from breakout buy point: 1.98%
* Volume 106.73% above its 15 day avg.
Trade Idea
* The idea here is to play the pocket pivot.
* The pocket pivot seems to be valid as it's emerging from the 10/20 EMAs
* This seems like a good entry as it broke out from $29.87 with tonnes of volume and we can expect it to continue higher
* Managing risk tightly as I don't want to lose more than 4% on this trade
* If you're looking for a better entry you can look for an opportunity around the $29.87 area and manage risk accordingly
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