Thursday 14 August 2014

DRYS - breaks out to the upside

With the main market continuing to claw higher, the Transports gained. There was notable strength in Dry Ships (DRYS), settling +3.1% @ $3.18. A marginal breakout, with the weekly cycles offering the $4 threshold in September.. some 25% higher.


DRYS, daily


DRYS, weekly


Summary

Little to add from a few days ago.

DRYS - along with the main market, is headed higher.

We have an important break into the $3.20s..and the big $4 threshold look very viable next month.