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Courage Marine: Range bound.

Monday, August 9, 2010

Price seems range bound between 19.5c and 18.5c. The BDI has been rather anemic of late and that could perhaps partly account for the lethargy in Courage Marine's share price.

The MFI, OBV and RSI have all recently flatlined.  Nothing seems to be happening. In a range bound situation, look at the Stochastics and we see it high in the overbought region.  This suggests that price, which happens to be at the upper end of the range identified, could find it hard to move higher for now.

The good news is that MACD has been rising slowly in positive territory above the signal line.  The return of positive momentum provides some cheer although we should remember that it is a lagging indicator.


jason said...

latest update was that they made about $500k in profits disposing one of their vessels... that will spell good for them.. as it is now, rates are in the pits and Q3 doesnt look to improve with the summer holidays + cooling down of the China economy.... bracing ourselves for a mini collapse of sorts.

AK71 said...

Hi Jason,

A mini collapse? Oh my, this will be circling in my head the whole night now. Insomnia...;p

Wong said...

Hi AK71
How about this counter? Did not see you blog about it recently ... :D

AK71 said...

Hi Wong,

Nothing much is happening here. Nothing much to say, consequently. :)

The FA I have done for the counter gives me the confidence to hold. The BDI (US$2,988, up 0.437%) has been recovering and this is good news for Courage Marine. I will wait and see. ;)

Wong said...

Hi AK71
Will it be a good idea to accumulate more at .18 to average down at this point?

AK71 said...

Hi Wong,

That is a short but BIG question. ;)

If you have excess funds lying around and if you think that the shipping industry has turned the corner, 18c seems inexpensive.

If you already have a large investment in Courage Marine, then, you have to question how comfortable are you to increase exposure to this company.

In my opinion, Courage Marine is fundamentally sound. If there should be nasty surprises in the macroeconomic environment, Courage Marine would most probably survive because of its strong balance sheet. Shipping is a cyclical business. We have to ride the waves. :)

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