Stock Chart Analysis DRYS

Posted by downtowntrader | 12/13/2007 09:23:00 PM | 0 comments »

Stock Chart Analysis DRYS

DryShips Inc. (Public, NASDAQ:DRYS)

DRYS has been one of this years best performing stocks, with a bottom to top run of over 110 points. It has recently been in a correction, along with other dry shipping stocks. While it's too early to say if the stock completed it's correction, it is looking like it's ready to test the waters up above. It had a nice bounce off the 70 dollar mark up near $100, and then settled down nicely on it's 20 day sma. A higher high tomorrow may provide a nice entry with a target near $120. Of course nothing is set in stone as this is a game of probabilities, but with year end window dressing season upon us, and one of the years hottest stocks coming off a correction, I like the chances for this moving higher.

Good Trading,


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