BREAKOUT STOCK ALERT
$TOPS - TOP Ships Inc. - Common Stock
Initial Alert Price: $1.3
Potential Price: $1.48
Potential Gains: 14%
Stop Loss Limit: $1.24
Looking for a 10-15% Swing Trade on TOPS. The stock consolidated on the 23.6% Level of the Fibonacci Retracement Analysis from it's Dec. 4th Breakout to $1.71 after an output compromise by OPEC and it's allies...
Chief Executive Officer, Evangelos Pistiolis, has today purchased an aggregate of 100,000 common shares of the Company in the open market.
In addition, the Company announced that for a period of 12 months following the date of this release:
(i) it will not conduct any equity offerings, public or private;
(ii) it will not conduct any reverse stock splits;
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...
Looks like a relatively sound plan. In/out at target 1, back in after a small one, two point drop before next target reach. 1 week/2 time frame.
(put a decent amount $$$ in to make it worth it of course)
*As always set your limits and stops traders
Some how, Its related to Oil $CL - Bullish idea needs good Oil prices which will help $TOPS to jump and close upper gap at 0.85 currently 0.157 so around 5 X . high volume on green candles - positive RSI -MFI . the key point to break up recent down trend between recent tops . Target as showing on red lines. 0.4 could be a major point then the upper gap at 0.85 ....
As we can see from the past, the first uptrend of TOPS is huge by 743% gain. The second fomo wave is at 27% gain.
From now until the market officially open again, the next real uptrend of TOPS is about to begin.
RSI was forced to move around 30 because of 2 big drops on May 15 and May 19, which are actually the key to push the price higher.
I can see there are...