NEW BULLISH Plays
Diana Shipping - DSX - close: 14.99 change: +0.57 stop: 13.90
Why We Like It:
DSX is a Greek shipping company and the stock appears to have formed a bullish double bottom. Shares are now testing resistance near $15.00. I suspect the stock will breakout and make a run at the $18-19 zone. The Point & Figure chart is bullish with a $21 target.
I am suggesting a trigger to open bullish positions at $15.25. However, this is a volatile stock so we want to keep our positions small. We'll use a wide stop loss at $13.90. If triggered our exit target is $18.75.
Entry on October xx at $xx.xx <-- TRIGGER @ 15.25 (1/2 pos)
Change since picked: + 0.00
Earnings Date 11/10/09 (unconfirmed)
Average Daily Volume: 1.9 million
Listed on October 20, 2009