Nota very good report since it's been going up. Shows a downtrend which makes sense. Look for some profit taking tomorrow. Sayu
EAGLE BULK SHIPPING INC (NASDAQ:EGLE) Weak Downtrend Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops. Based on a pre-defined weighted trend formula for chart analysis, EGLE scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
-10 Last Hour Close Below 5 hour Moving Average -15 New 3 Day Low on Thursday -20 Last Price Below 20 Day Moving Average -25 New 3 Week Low, Week Ending December 26th +30 New 3 Month High in November
Sayuthink I don't know if you are short or what your agenda is but the CURRENT info is this. You should update your smartscan.
Strong Uptrend EAGLE BULK SHIPPING INC (NASDAQ:EGLE) Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders. Based on a pre-defined weighted trend formula for chart analysis, EGLE scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average +15 New 3 Day High on Tuesday +20 Last Price Above 20 Day Moving Average +25 New 3 Week High, Week Ending January 9th +30 New 3 Month High in November
I will say that I make a lot more money getting in at the bottom rather than chasing stocks that are already in strong uptrends. Indicators are all turning positive. Guessed the (intermediate bottom) in the high 4.9's when I took my first position (check my previous posts from a week or two ago), of course that was an guess, but an educated one- we should see at least a couple good weeks now I believe. I am in no way saying this is a "healthy" sector, but one that is at a bottom and one that is due for a bounce up in the short term.
You're posts seem to make a lot of sense, cytis. Maybe you're on the wrong board. It sounds like you're just in EGLE for a trade, which is fine. It's been trading in a pretty clear channel now for a while. I may take some profits when I think it's hitting the top of the channel again, or I may hold on. The shipping sector will recover, my guess is in the middle of 2010 when everyone realizes that the media exaggerated the over-saturation of ships. Consider holding, stocks trade in a channel until one day. . . they don't. I think there's a lot of upside here.