This is a signal that ASC's price trend could be reversing, and it may be an opportunity to buy the stock or explore call options. Tickeron A.I.dvisor identified 65 similar cases where ASC's stochastic oscillator exited the oversold zone, and 56 of them led to successful outcomes. Odds of Success: 86%.
If the economy starts booming again, we shall see this Oil tanker company raise in value.
So I am looking to go long at the C point around $4.23 with a tight stop loss if we break the support.
Take profit target is on chart, which corresponds to the top of the channel. If this scenario plays out, I'd look for a short next.
$ASC is another Oil&Gas shipper that is breaking out from a multi year consolidation/bottoming pattern
Since the OCT'16 low the stock has been trading/consolidating/bottoming inside a box (trading 5.00-9.05 range) with an attempt to break down during the DEC'18 capitulation
Starting with the summer 2018 the stock has formed a C&H pattern on the weekly chart
This...
What I like on this stock is the ascending trend above every moving avarage, is some kind of ascending triangle close to the 10 big resistence, the target on this one will be the SMA200 in 10.54, and the stop in 9.19 (al the SMA area)
Ardmore Shipping Corp. operates as a holding company. The firm engages in the provision of seaborne transportation of petroleum products and chemicals worldwide. It also owns and operates fleet of tankers. The company was founded by Anthony Gurnee on May 14, 2013 and is headquartered in Pembroke, Bermuda.
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