Aug 3, 2006 -
An analyst upgrade
and descending wedge breakout...
DryShips, Inc.
(DRYS) owns and operates dry bulk carrier vessels.
Key
Information:
Fundamental:
Sector:
Services
Industry:
Shipping
Liquidity:
Market
Capitalization: $391 million
Average daily
volume (3-month): 275 thousand shares
Closing Stock
Price: $12.89
Risk
Proxies:
52-week high /
52-week low: 2.056
Beta
(3-month): 0.46
Debt/Equity:
1.374
Profitable:
Yes
Note:
This stock is risky! If you choose to trade it, please use appropriate
position sizing.
Valuation:
Price/Sales:
1.54
Price/Book:
1.06
Price/Earnings:
3.57
Price/2008
Analyst Earnings Estimates: 6.51
Forecast
Horizon: 1 month
Technical
Analysis
We are
technically bullish on DRYS:
- The stock rose strongly and on high volume following
a bullish analyst revision (see Signal and Prtamani, 2001)
- The stock broke out of a large descending wedge
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Reference
Pritamani, Mahesh, and Vijay Singal, "Return predictability
following large price changes and information releases" Journal of Banking
and Finance, April 2001, 25(4), pp.631-656.
Key
Levels
Buy:
Market
We are
technically bullish on the stock
Stop Loss:
12.24
A 5% stop
loss; there is no support nearby
Target:
A 1-month hold
One month is
the time over which the technical formations we have identified have predictive
power.
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