After 6 months of nonstop drop, reverse split, common stock offering this company finally heading for a bullish direction. With rapid increase in shipping cost, good cash balance in hand, and a technical set(bullish divergence with double bottom) this stock is definitely going to run soon.
In conclusion:
Bullish reasonings:
- Technical: double bottom, bullish RSI, falling wedge breakout
- Fundamental: high shipping demand = high cost per shipping, 2021 June revenue went up 10x compared to to 2020 June, strong cash balance 40M compared to 6M cash burn.
If there is any stock you want me to analyze, pls let me know.
In conclusion:
Bullish reasonings:
- Technical: double bottom, bullish RSI, falling wedge breakout
- Fundamental: high shipping demand = high cost per shipping, 2021 June revenue went up 10x compared to to 2020 June, strong cash balance 40M compared to 6M cash burn.
If there is any stock you want me to analyze, pls let me know.
Comment:
Price going as expected. Waiting for 30MA to cross above 50MA