Matson, Inc. ("Matson" or the "Company") (NYSE: MATX) announces preliminary third quarter
financial results and provides a business update.
"Matson's Ocean Transportation and Logistics business segments continued to perform well despite a challenging business environment and relatively difficult economic conditions impacting the U.S. consumer," said Chairman and...
* Great earnings
* Very strong up trend on the monthly time frame
* Very high 3-month relative strength of 2.73 in the Industrials - Marine Shipping sector
* U/D Volume Ratio of 0.85 (above 1 is preferred)
* Upper base depth of 19.06%
* Currently trading with volume 184.01% above its 15 day average
* During the formation of the upper base it also created a cup and...
$MATX cup with handle here is one that I am watching. Need to show me supply stopped coming to market right below that $94 line.
Noting strength is all for now. Bullish chart in a sea of nasty.
$MATX another marine shipping stock setting up. I've posted about $ZIM and $GSL last few days.
Cup with handle on daily. Important to see how it acts and build that pivot around the $90 level to compensate for a less than rosy volume pattern.
Worthy of a watchlist stock.
ENTRY: 72.50
SL: 66.22
TP1: 79.05
TP2: 85
- ADX<25. Would like to be higher.
- RSI<65 but >50. Uptrend still intact.
- RS +ve
- FFI +ve and decreasing
- Daily MACD +ve
- MAs aligned
Matson stock has done an Ascending Triple Top Breakout. An Ascending Triple Top Breakout on a P&F chart is characterized by 5 columns. Of those 5 columns, three are X-Columns that ascend with each breakout, and the other two O-Columns are in-between the X-Columns.
Notice the P&F volume chart below that shows the buy side volume is climbing nicely as each previous...
