NYSE:NAT   Nordic American Tankers Limited
NAT has been falling drastically in price for the last 6-7months, after it was hyped up through March and April for the record low oil prices. After the oil prices started to rise again, NAT has just been going DOWN, showing no strenght what so ever.

Many people are interested in this stock because of the high dividend it's paying out which currently sits at stunningly 24%! If this is good or bad for the company can be discussed.

Now let's look at the technical of this stock. NAT are currently in a long lasting descending channel . Price is currently at 3.06, and as you can see price got rejected at the horizontal and trendline resistance. Its not ready to break out yet. I think we will have another leg down to about 2.30-2.50, where the blue box is placed. This level is probably the best place to enter NAT if the price resumes up. Because of the horizontal and trendline support at the 2.30-2.50 zone.

So how high do I think the price will go from there? My target is around 4.82. That's the zone where the price started to go into a descending channel and we also got strong support up there.

This is the absolute best and safest place to enter NAT in the following weeks/months, If the price breaks below this level price will probably enter a consolidation like January 2018-September 2019.

If you like this analysis and find it helpful, please leave a like! Appreciate any feedback, and sorry for bad English :3


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