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Is Diana Shipping Headed for a Big Move?

Stock MarketsOct 21, 2021 10:01AM ET
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© Reuters. Is Diana Shipping Headed for a Big Move?

A symmetrical triangle pattern has formed in the chart of Diana Shipping Inc . (NYSE:DSX). This occurs when a down trending resistance is combined with an up-trending support line. The stock is expected to either break above its resistance or below its support. Read more to learn how to profit from this trading opportunity.Diana Shipping Inc. (DSX) provides shipping transportation services. The company, through its subsidiaries, operates a fleet of vessels consisting of dry bulk carriers such as Panamax, Kamsarmax, Post-Panamax, Capesize and Newcastlemax vessels. Using this fleet, the firm provides transportation services for various goods including coal, iron ore, and grains.

As the global economy has continued to open up, the demand for shipping has sky-rocketed. This has benefited shipping stocks like DSX. This has been especially true due to high demand for steel in emerging markets and massive need for dry bulk shipping.

The company’s current ratio of 2.6 indicates that it has more than enough liquidity to handle short-term obligations. In terms of growth, analysts expect earnings to soar 240% next year. This has led to a Growth Grade of B in our POWR Ratings system.

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Is Diana Shipping Headed for a Big Move?
 

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