IMPP: Potential Bullish Consolidation In Certain Shipowners

BATS:IMPP   Imperial Petroleum Inc.
With BDRY (The Baltic Dry Index ETF), finally going up, we may start to see more shipper stocks go up. We've already started to see an uptick in SB, GASS, TK, and TNK, now we might start to see some action across the entire sector.

I still would want to focus on those that are giving us at least a somewhat decent pattern, and IMPP in this case is both cheap and has potentially formed a Double Bottom with Bullish Divergence above the previous level of resistance. Given that it focuses on Oil and owns Ships, I think it can start rising with the Baltic Dry Index, especially if we get more demand for oil in the coming months.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.