this looks like it might go, the read line is the 100 day SMA i noticed that it did 84+ million share which is about +200% the normal volume so heavy institutional buying today and that it gaped up very bullish. my guess since china keeps doing additional stimulas. i would be looking at see a break over the 100 day SMA moving average. i am expecting the it will consolidate through it. the 200 SMA is near $33 so it closed at 7.17 might be a good tradable stock for a while.

i thought i would add this into dryships

this is the transportation sector and all the industrys that make up that sector if you notice for the week shipping was the best for performance with an average 15.2 % gain followed by railroads with an 8.4% gain for the week. transportation was the second best performing sector for the week just behind the media sector

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Hope This Helps And Don't Forget To Have A Fantastic Day.

Novice,

Welcome to Dojispace!

This is a very interesting find.

I am adding some charts so I can discuss this looking at some indicators that I like to use.




The Price recently crossed up through the 50 MA -- Bullish
The 5 MA Crossed up through the 9 MA -- Bullish

RSI has been uptrending since the beginning of March - Bullish
- It turned up sharply yesterday due to the volume from yesterday - again Bullish

CCI crossed up through the 100 line - Bullish - although now it is oversold - caution.

Stochastics - had a Bullish crossover on Monday
- Both the fast line and the slow line are uptrending strongly -- Bullish

Accumulation/Distribution & Volume are the real stories

Of course, you already pointed out the dramatic increase in Volume.

Acc/Dis - shattered resistance set in late March and February - very Bullish
Acc/Dis - has been uptrending since beginning of March

The MACD Histogram is upticking and the MACD Fast Line did a bullish kiss off of the Slow Line. -- Bullish

There is a Bullish Divergence of the DI + & - Lines

The ADX has started upticking -- indicating the beginning of a trend.


The question is 29% move -- did we miss the boat.

I don't think so.

After such a large move, you would almost expect a pullback. That might not happen here.

This looks like a Break Away Gap.


Breakaway Gap - Breakaway Gap Stock
The breakaway gap is a significant development and has strong implications in the direction of the gap for the stock. Breakaway gaps occur when prices jump outside of a recent trading range or consolidation area. This may happen when a stock opens well above any high made recently or well below any low made recently, as a result of sudden extreme optimism or pessimism. Breakaway gaps are not filled quickly, and leave a blank space on the stock chart. Breakaway gaps often occur as resolutions to common chart patterns, as traders identify a pattern and rush to be the first into the trade. Identifying breakaway gaps properly can lead to very reliable trading signals, particularly when they occur on high volume.




Source: http://www.thestockbandit.com/Breakaway-gap.htm


In summary, it looks like this break out has legs.

I do have a fundamental concern: I believe that the Market is due for a pullback.
I am uncertain on how DRYS would perform if we do get a pullback.

DRYS (like many stocks) is at historic lows.

This last chart suggests that DRYS has established a bottom.







I think if the Nasdaq futures looks positive on Monday, I may get in.

It is certainly worth watching.

I look forward to more of your posts.


Happy Trading

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May We All Make More $$$ Faster

Likesmoney


http://likesmoney.comxa.com/

This stock is on the radar of many traders so watch out for some serious action on Monday. It's rise is based on Chinese stimulus and the resulting increase in shipping traffic.

hey i just thought i would let people know i bought DRYS yesterday to take advantage of the down day and right now it is up 12% from yesterdays close

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Hope This Helps And Don't Forget To Have A Fantastic Day.

ya i am a swing trade, and i look for things that allow me to play options particularly, i bought 2 $6.00 call options for may so this month the day yeilded about a 30% gain in option gain. i am looking for it to go about 9 maybe 9.50. first it has to break and close above 7 on higher volume and i think it can get there due to the volume that has already happened. the reason why i think that it can get to at least 9 is if you look at the chart, there is an inverted hammer/shooting star formation, the high is 9.76. so i am looking get out just before then.

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Hope This Helps And Don't Forget To Have A Fantastic Day.