RE: Watchlist - Investor method
I went hunting for some quality Stage 1 or 2 setups today and landed in the Marine Transportation group which appears to have some life in it. I had recently bought BALT @ $4.74 so I knew that the Industrials sector was at least in a 2B and the Marine Transport group looked to be in a solid Stage 2.
My current favorite of those I found is PRGN as it rose about 40% since its breakout about 2 weeks ago on a great volume spike. PRGN was in a Stage 1 base for about a year prior to this. It’s above the MA, the MA is starting to rise, the relative performance is rising and just popped over the zero line, and finally cleared its overhead resistance. The current P&F price target is $17.75. EGLE and GNK also have a lot of potential.
Here is the list of others that I thought looked interesting from this segment:
ANW
DHT
EGLE
ESEA
GLBS
GNK
PRGN
SBLK
ULTR
VLCCF
Cheers,
theory6453
I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over again in my life. And that is why I succeed. - Michael Jordan