Sunday, November 25, 2007

DRYS Weekly chart


On the weekly chart, DRYS confirmed a breakdown from the uptrend channel.If you see last week's candle it clearly indicates that it fully travelled outside the channel. This further confirms the breakdown from the daily channel as posted last week here.
If you are long-term short holder, keep your stop at 89. If you are a shorting on a short-term basis, your stop will be at 82. Target is at mid 60s.

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