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.
Comment
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Price going as expected. Waiting for 30MA to cross above 50MA
@Nadster, still bullish. It's accumulating, there might dip here and there but overall it looks good.
Nadster
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Target by end of 2022?
tengis0621
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@Nadster, I got 17$ but people's sentiment on this company seems pretty bad based on reddit. They were saying that the company does so many stock offerings. So I will pay close attention on the run and take my original money fast and keep my profit.