Trade2Double

$EDRY Low float stock tecnically ready to spike

Long
NASDAQ:EDRY   EuroDry Ltd
I like stocks like this one. Recently this formation has been popping up on my radar and it works like a charm. Very low-risk investment, in the booming industry. Shipping rates have been skyrocketing lately and with delays in the Suez canal, they will stay elevated for a while.

For my business, I am often ordering different products from all over the world in containers. Recently I was shocked by the rates for some of the routes. With lots of delays and products running out in many stores people are forced to pay much higher and it will be here to stay for a while. That is why I see this entry very safe bet. First, everything lined up on the chart, and then the fundamental situation looks very bright for this company.

With OS at only 2.29M and insiders holding half plus institutions over 10%, this stock can have a major spike. Next ER should be significantly improved, forward PE is projected at 4.3. If you one of those who know what to do, good luck. For others, good luck chasing it or missing out. :)
Comment: Insiders position increased by 10%
Trade closed: target reached

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