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RizeSenpai

Castor Maritime: Setting Up For a Falling Wedge Breakout

Long
Castor Maritime Inc. (BATS:CTRM)  
RizeSenpai  
BATS:CTRM   Castor Maritime Inc.
Technical Indicators Chart Patterns Fundamental Analysis drybulk shipping Falling Wedge freight
5
0
indicator chartpattern fundamental drybulk shipping fallingwedge freight
Castor Maritime is a Maritime Shipping stock that's been on my radar along with its falling wedge, but I have only just recently gotten interested in entering after seeing the quarterly earnings finally start to turn around along with seeing the price action finally test the 21-week SMA as support. With all of this being done it is worth considering the fact that CTRM's PE Ratio is currently about 1.5x which is pretty low even for this sector. I think we may be setting up for an ultimate Bullish Breakout that would take CTRM up to the 61.8% Retrace up at $8.94

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