EGLE Eagle Bulk Shipping Weekly Chart Basing Positive Divergence

There are a few earnings releases on tap this week in the overseas shipping area so it will be worthwhile to watch companies such as DRYS, EXM, NAT, FRO, GNK, EGLE, etc...., as well as the Baltic Dry Index.  Keystone entered EGLE on Friday to initiate a long position. The chart shows a long term basing in place, now price stumbles along the bottom and should not drop under 2.20 from here. Once price turns off the bottom like this it should be in good shape for more sustainable and extended upside moving forward.  If EGLE tails lower, Keystone will likely continue to scale-in, if it pops, probably take the money and run, and then look for a reentry. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.