DRYS psar bull signal and huge move

The ocean shipping company DRYS rose 9.6% and is showing a psar bull signal after five days when the psar went bearish.

The pps gave a bull signal on earnings day, Feb. 25, and the macd has been in bull mode since Feb. 17.

Today's move is notable because it pushes the price well above sideways congestion that has held sway since early February, to the top of a resistance level set in December. If it can move above that level, maybe $6.15 or $6.20, then it has a fairly clear shot up to $6.95.

You are here

• Resistance
• $6.95, +13.9%
• $6.52, +6.9%
• $6.20, +1.6%
• Current $6.10
• $5.30, -13.1%
• $5.15, -15.6%
• $4.92, -19.3%

What's not to like is the distance of the support from the current price, the fact that the stock has today made a huge move and typically can be expected to rest for awhile, and the low price, which can make options almost as expensive as the shares. Personally, I like some leverage.

Abbreviations:
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic