GE Shipping - Support bounce
Watch for a bounce right here or around 547 which is the 200EMA.
Tanker prices have done to the moon over the last one week and continued to go higher today as well..
GE does most of its ship bookings on the spot market so they could benefit from the windfall gains again.
I'll go long when it bounces. Ideally if it bounces of the 200EMA that would be the best.. and keep a 5% stoploss below that.
The company is also generating some large cashflows during these times from windfall gains which will eventually go into fleet expansions going ahead.
They are also starting to see gains on the Oil Rig side from the middle of this year when the rigs come in for repricing which will massively benefit the co coz these contracts will be locked in for 3 years atleast.
I believe this is one of the most misunderstood sectors in our stock market so the stock isn't priced correctly.
Tanker prices have done to the moon over the last one week and continued to go higher today as well..
GE does most of its ship bookings on the spot market so they could benefit from the windfall gains again.
I'll go long when it bounces. Ideally if it bounces of the 200EMA that would be the best.. and keep a 5% stoploss below that.
The company is also generating some large cashflows during these times from windfall gains which will eventually go into fleet expansions going ahead.
They are also starting to see gains on the Oil Rig side from the middle of this year when the rigs come in for repricing which will massively benefit the co coz these contracts will be locked in for 3 years atleast.
I believe this is one of the most misunderstood sectors in our stock market so the stock isn't priced correctly.
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