Dry shipping is breaking out. Golden ocean group is a major player in this industry. The Baltic Dry Index is now above 1000. Prepare for a massive move.
After successful breakout, I expect price to reach 14 before a longer correction.
Note
Today's closing will be interesting.
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BDI has gone from 290 in February to 1231 now. That is a 325 % increase. Look at how the stock has just consolidated in the same period. Today's drop is just transferred effects from nervous people long DRYS - a merely techincal one. It serves its purpose; to scare investors from holding GOGL shares.
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