Transportation - Marine Shipping; Strong Sector, Stronger 3877
1) Noticed that many stocks in this particular sector have been setting up quite nicely in both the HK and US equity markets.
2) In particular to the HK Market, things are starting to look better with some equities entering accumulation phases. The HSI also looks to finally start a new uptrend with higher lows formed.
3) SEHK: 3877 is setting up quite nicely with the initial shakeout mid march of 2022. Volume is starting to increase - clear signs of accumulation.
4) Price has now traded in a tight range between ($1.29, $1.34) - a Darvas box! Although overhead supply is right at $1.37, I do believe we might have enough fuel to punch through.
5) Call me ambitious but TP is at previous ATH of $1.76 - making this a risk to reward of about 1:4.
2) In particular to the HK Market, things are starting to look better with some equities entering accumulation phases. The HSI also looks to finally start a new uptrend with higher lows formed.
3) SEHK: 3877 is setting up quite nicely with the initial shakeout mid march of 2022. Volume is starting to increase - clear signs of accumulation.
4) Price has now traded in a tight range between ($1.29, $1.34) - a Darvas box! Although overhead supply is right at $1.37, I do believe we might have enough fuel to punch through.
5) Call me ambitious but TP is at previous ATH of $1.76 - making this a risk to reward of about 1:4.