Dry shipping is breaking out. Golden ocean group is a major player in this industry.
The Baltic Dry Index is now above 1000.
Prepare for a massive move.
It has broken out to the upside. Huge move ahead.
After successful breakout, I expect price to reach 14 before a longer correction.
Today's closing will be interesting.
BDI has gone from 290 in February to 1231 now. That is a 325 % increase. Look at how the stock has just consolidated in the same period. Today's drop is just transferred effects from nervous people long DRYS - a merely techincal one. It serves its purpose; to scare investors from holding GOGL shares.