Shipping industry seems to have bottomed with China Shanghai Composite recent rally. Will this industry be the comeback industry? Will the recovery of China and Europe economy in 2013 power the 3 shipping giants? MAYBE!
Looking at the charts of NOL, Yangzijiang and Cosco, Prefer Yang Zi Jiang. There may be accumulation taking place, and slightly above the psychological support of $1, it makes the reward higher than the risk. I also looking at NOL, today also running 4 cts. prefer not to chase NOL, let us see whether they consolidate. Cosco still below $1, wait for it to burst thru or consolidate to $0.90 before taking another look.
Yang Zi Jiang can be both a long term or short term play. Long term you may want to hold until Europe and China economy becomes better this year. Short term trading, pls take note of all 3 companies' earnings this quarter. It is still be a risk to hold this stock thru its earnings.
Price now: $1.03
Short term target 1: $1.10,
Short term target 2: $1.17-$1.20
Stop loss: $0.97