November 23rd, 2010 by Marubozu
DRYS has just broken all 3 Moving Averages resistance lines in the month of Nov. Current chart pattern looks bullish with 20D MA rising very fast to crossover 200D MA soon. As long as DRYS stays above the 200D MA support of about $4.90, DRYS will probably start a nice bull run from now onwards. Note that DRYS has a tendancy to go on Parabolic Curve bull run base on the past chart pattern. Sit tight and hope everyone can enjoy this nice ride! Check out the historical high of DRYS and your eyes will pop out!
July 22nd, 2010 by Marubozu
DryShips has been beaten down badly due to poor BDI index. However it may been a good time to do bottom fishing on DRYS in anticipating the economy recovery and also many countries need coal for the winter period. Such activities will increase the dry bulk shipping demand and thus drive the BDI index up. DRYS stock price has very high correlation with the BDI index. DRYS hit US$130 and US$115 respectively when BDI hit the peak (> 10,000) in Nov 2008 and May 2009.
Currently DRYS is trading about US$4.00 and current BDI index is about 1,700. If you look at the downside risk (lowest is US$2.72) versus the upside potential (historial high US$130), it looks very attractive for long term investment. However, if the economy does not recover as per plan, BDI will drop further. Is it worth the gamble? Your Call!
October 29th, 2009 by Marubozu
DRYS chart looks very bearish as DRYS broke down the Wedge channel support. The stock price is currently below 20D, 50D and 200D MA. Another scary thing is DRYS 200D MA is heading south implies that the DRYS is still on the long term down trend.
Technical Indicators also confirm that DRYS is bearish:
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Stock price is at the lower Bollinger Band.
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Stock price is below the Parabolic SAR.
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MACD is moving into lower half of the graph.
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RSI and Stochastic are heading south.
