DHT bouncing off of trendline for the third time. The 5 min chart is showing a descending triangle, which is technically a bearish signal, so I am going to wait for a bit to make sure that the price holds above the trend line. I hope to get in below $6.40.
I'm willing to risk about 4.5% on this, which gives me a risk to reward of about 6.5 if all goes well.
Trade active
⋅
Decided to take a long position at $6.3
Trade active
⋅
Not looking too good. I'm hoping that it just made a double-bottom and will go up. Still in the green currently
Trade closed manually
⋅
Decided to take profits before the price went against my favor
The band has narrowed....
Regardless of the nonsense, I am in upward around 7.xx.
I DCA down, and I can say, that this market is not only blind, but deaf, dumb, and stupid. This is Q1 earnings!!!!! The tanker industry lags revenue about 45 days, plus, most of the big moves (except Jan), happened in end of March and April (reflected in Q2). Trading signals or not, this stock is WAY undervalued, PLUS, the conference call pointed to the fact, that the analysts expecting Q2 revenue of 174mm, is already there in May with 162mm, and 580 unfixed revenue days left. That is roughly about another 30mm at the current spot rates of 50k. Someone needs to put some sniffing salts under these tankers stocks, because this is sheer suppression of stock, nothing more.
arlind30
⋅
I have been monitoring this since it made it April highs. i think between 6.30-6.40 is a good risk/reward ratio. Definitely think this stock is undervalued. Overall the tankers will do well in the next 6-9 months... where in the world are they going to store all this oil... LONG. GLTA
Regardless of the nonsense, I am in upward around 7.xx.
I DCA down, and I can say, that this market is not only blind, but deaf, dumb, and stupid. This is Q1 earnings!!!!! The tanker industry lags revenue about 45 days, plus, most of the big moves (except Jan), happened in end of March and April (reflected in Q2). Trading signals or not, this stock is WAY undervalued, PLUS, the conference call pointed to the fact, that the analysts expecting Q2 revenue of 174mm, is already there in May with 162mm, and 580 unfixed revenue days left. That is roughly about another 30mm at the current spot rates of 50k. Someone needs to put some sniffing salts under these tankers stocks, because this is sheer suppression of stock, nothing more.