A friend asked me what I think of Courage Marine and I told him I like its numbers and I like how the BDI seems to have stabilised at $2,500 thereabouts. I feel that Courage Marine shouldn't have bad news with regards to earnings. The main reason why I have not really talked about Courage Marine very much recently is the lack of anything newsworthy.
Courage Marine's share price seems to be going through a lengthy consolidation period. Nothing exciting either way. OBV is flat which indicates a lack of any distribution or accumulation activities. Seems like status quo to me. The MFI still suggests the presence of demand while the RSI has bounced off the 50% mark which suggests some buying momentum is present.
The 20d, 50d and 100d MAs have all merged at 19c. 19c could either become a strong support or a strong resistance in such a case. Which way would it go? Well, we have a buy signal on the MACD histogram and with the MFI and OBV more positive than negative, I would hazard a guess: up. In such an instance, I see resistance at 20c, 21c and 23c. Good luck to my friend and fellow shareholders.
Related post:
Courage Marine: Awakening.
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