From my gathering this ship building business has been hit very very hard, but I dint see that it is bankrupting (no more than any other business during this shutdown madness). The price action has brought it back into a retest of the recent lows, and we are seeing rejection in the zone. So im watching this for a possible long side breakout and then ill be looking for entries. To me its a low risk high reward set up.
Still, this was a very risky set up to begin with, and I still have not found a reason to enter. The shipping industry will come back, and while this chart is ugly, it still has a chance to do something.
luisrudman
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This people take out my comment every time. LOL... PLEASE DO NOT GO LONG ON THIS STOCK. At least that you want to lose your money. Before the split the price was minus -$.85 cents. After the split they goes down from $2 something to $.96. So, don't waste your money because this co. Is going to bankruptcy soon.
tham6071
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target after split ?
Three_Minute_Timeframe
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Any ideas on the effect of the reverse split? Thanks in advance
Ayric
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@Floya not me, im a technical trader, one day I hope to marry the two types of trading. But for now, a reverse split doesn’t weigh on my decision.
TheStockWhisper
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You are correct. They did get hit very hard and drybulk rates as if yesterday seen an increase all around. They all will bounce soon enough. I’m following GLBS as well. Risk to reward to to good to overlook!
Ayric
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@XxRICOxX, Ill review its specs and add it to the list if see what I like, Thank you for the tip.