Danaos Corporation (NYSE:DAC) , one of the world's largest independent shipowners specializing in container shipping, represents an attractive investment opportunity in light of the sustainable recovery and growth of global trade post-COVID-19 pandemic.
The company owns and operates one of the world's largest fleets of container ships, allowing it to benefit from...
The Danaos Corporation has developed an Inverted Head and Shoulders on the RSI, during this time it has also begun to Bullishly Breakout of Bull Flag alongside the global charter rates and is likely to continue up to atleast make a 38.2% retrace so long as charter rates continue to rise.
Another interesting stock, in June the moving average of 50 periods went below the moving average of 200 periods which creates what is called in technical analysis a dead cross, and since then the price was always under the moving average of 200 periods. Now the price reaches a price level of 57.68 already used in the past as support in May and in June 2021. The...
Stocks that are falling rapidly often have the illusion that they will never stop falling. The panic that settles into the mindset of an investor who is watching his or her profits and capital erode overnight can overwhelm a stock’s price action. So for a brief time, the stock can behave outside of what the chart patterns would suggest was reasonable. But the...
DAC currently breaking out on the last day of the year
This breakout is with low volume, so there are some concerns for taking this trade. But there are some buy signals showing up..
Entry would be now before close, or be patience and wait to see if it clears the 100 MA
Entry - $75.50
Target - $89
Stop - 2 ATR = 6 ($69.00)
Risk to Reward - 2:1
Looks to be in a long sloping flag pole, got caught on the MA200, RSI oversold.
Breakout -
Entry above trend break, high volume would make it better, implied move would push to test ATH
Breakdown
Entry below trend break, high volume a must. Implied move would be to the fill of GAP
Resistance 1 : 79.50
Support 1 : 68.80
Support 2 : 58.20
DAC already stand above Support_1 : 68.80 and continue to test Support_1 : 68.80. If DAC will stand above 68.80 for this week and DAC will continue to break new High. If DAC unable to stand above 68.80 and will look back 58.20 (Window GAP).
Resistance 1 : 79.50
Support 1 : 68.80
Support 2 : 58.20
DAC had fallen at last Monday but after that immediately bounced back near Support_1 : 68.80. DAC must stand above Support_1 : 68.80, if not, Support_1 will become strong resistance for DAC in short term. Next week QR report will be strong indicator whether DAC will continue break 70 or drop to Support_2 : 58.20.
Resistance 1 : 79.50
Support 1 : 68.80
Support 2 : 58.20
DAC already dropped below Support_1 : 68.80. In short term is not a good Signal. If DAC unable to stand above Support_1 : 68.80, then will continue to drop until Support_2 / Window Gap : 58.20
Resistance 1 : 79.50
Support 1 : 68.80
Support 2 : 58.20
DAC already dropped below 68.80 which DAC already in downtrend and heading to big Window Gap (58.20 - 63.70). If in short period of time, DAC unable stand above 68.80, and the price will continue drop until 58.20.
Volume is up between 12 - 16 July 2021 and the price was continue dropped mean that maybe got...
Resistance 1 : 79.50
Support 1 : 68.80
Support 2 : 58.20
This week, DAC dropped around 14 % and hit the Support_1 : 68.80 and return above 70.00. We need to monitor closely whether DAC able to return back the uptrend tunnel which above 73.00 - 75.00. If not, then we need to look back Support_1 : 68.80.
DAC is in the business of operating containerships around the globe and has been one of the best performers stock price wise over the last 12 months. They are sill a sub $100 stock which is in the sweet psychological spot for retail traders still.
Could be worth a look.
Resistance 1 : 79.50
Support 1 : 68.80
Support 2 : 58.20
DAC will continue to break new High (79.50). If unable to break new high, will look back Support_1 : 68.80.
Resistance 1 : 76.00
Support 1 : 68.80
Support 2 : 58.20
DAC will remain above 68.80 for next one week. If break 68.80, next strong support will be 58.20.
Resistance 1 : 68.80
Support 1 : 58.20
Support 2 : 46.60
DAC will be stand above 63.60 and try to break previous new High 68.80. If unable to break previous new High, will look back Support_1 : 58.20
