NMM has been in a pronounced uptrend since November 2016. It has held to and bounced off of the general trend line shown in solid green. I bought at $2.10 and plan to hold until $2.60+. After three days of gains in a row, NMM may ease tomorrow, but continue the uptrend towards resistance around $2.60. The level between $2.50-$2.70 represents relatively strong...
Breakout accompanied with volumes. More upside to be noted around US$1.89-US$2.08. Support will be located around US$1.58.
In 3Q14, Navios Maritime Partners’ (NMM) chair and chief executive officer expressed satisfaction with the company’s performance. The management believes that the company has strengthened its balance sheet, operating efficiency, and dry bulk fleet in the tough times of the shipping industry (SEA), and it foresees taking advantage of a robust market.
This bullish pattern has a measured move to $17 and above. The price looks to be have bottomed and ready to roll upside from Friday's close. If you decide to take a long position if you are not already in, make your stop loss at recent swing low at $14 area or little bit below $13.70 area with target price $17. Join us www.wooowtrading.net