- Number of messages : 509
Points : 2766
Date of Entry : 2015-06-28
Year : 35
Residence Country : Russia
on Sun Jan 22, 2017 12:27 pm
New Trade in Bottoming Shipping Sector
Jan 21, 2017 02:11 pmBelow is a daily chart of Navios Maritime Partners L.P. (NMM), $1.72.
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Trade: It broke out last Friday, so purchasing at current levels is fine with the posted stop.
Strategy: After a robust breakout in the stock and sector last November, NMM retraced, and broke out from a higher-range multi-week consolidation, which is bullish. The volume (money) coming into the stock and sector is increasing with bullish weekly and monthly charts.
- Target: $2.75 – $5.00
- Stop Loss: $1.38
Adjustments and Comments on Open Trades
PBH – Triggered long at $53.05. Target $56-57. Maintain stop to $51.59.
MON – Purchased at $107.25. Acting very well and poised for an additional breakout. Move stop to break even.
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