Shippers Finding Key Support?

Blain Reinkensmeyer

A trend that has been out of favor for the last two weeks is shipping with leading stocks taking a breadth after some huge runs. Now coming off support are these stocks ready to roll once again?

I have the following stock charts here to show you: DryShips (DRYS), Genco Shipping (GNK), and Excel Maritime Shippers (EXM). All three of these stocks are up thus far today coming off closing around key support yesterday.

For those who are new to the blog, DRYS was a recent selection which we ran from just over $88 to well over $100 in less then three weeks.

drys-052808.png

exm-052808.png

gnk-052808.png

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More on this topic (What's this?)
Dryships reports large loss for the quarter (The Shipping Stocks Blog, 5/5/09)
Shipping stocks dividends earned 1st half of 2009 (The Shipping Stocks Blog, 6/1/09)
Excel Maritime (NYSE:EXM): A Rising Tide Lifts All Ships (Contrarian Profits, 5/22/09)
Read more on DryShips, Shipping, Genco Shipping at Wikinvest

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