Get started
JBiiiird

Is Western Bulk Chartering ($WEST) ready for some action?

Long
WESTERN BULK CHARTERING AS (OSL_DLY:WEST)  
JBiiiird Updated   
OSL_DLY:WEST   WESTERN BULK CHARTERING AS
Trend Analysis
0
0
trendanalysis
Dry Bulk in 2024 is on a rise, and his could be the pilot for WEST , after a poor 2023 where everything went wrong and cut on dividends.
Comment:
Edging it's way towards (and kissing) the 100 EMA line at the roof top on the trend channel as we take Easter break for nearly a week. 200 EMA is lurking further up, and a cross, where 100EMA breaks the 200EMA will set the stage for a trend reversal and bullish sentiment.

Trade Idea:
- IF price goes up and closes above 100 EMA on the daily, set an order with tight SL (at 24), as this might be a fake breakout. TP at 200 EMA line with a 7-8 % gain - Otherwise, wait for a retracement back to retest the support line and see which direction it takes (up or down) and go Long/Short based on the event.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.