NAT Nordic American Tanker Shipping Weekly Chart Falling Wedge Positive Divergence

NAT has paid its dues over the last two years, falling from the 30 plateau to an 11 handle now. The green lines show the first glimmer of bottoming as the MACD histogram started to pull up on the downward momo, and now price is making another lower low with positive divergence across the board shown by the blue lines; very bullish. The falling blue wedge is also bullish and the daily chart is set up with positive divergence as well. All systems are go. NAT is sitting on the launch pad ready for lift-off. Projection is a bounce next week and then continued sideways to sideways up for the weeks and months ahead.

The October low price may serve as a left shoulder and the current price as a head for a potential inverted H&S in progress.  Over time a right shoulder would need to form--after the launch pad bounce occurs in the days ahead. The daily chart shows a gap fill needed at 13, and also 14. The weekly chart above highlights a gap at 14 as well so the 13 and 14 levels serve as initial targets. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.