Nov 19

Diana shipping still attractive?

Looking at the chart of Diana shipping and shipping sector overall – I really love what is setting up. The BDI index is now on the rise higher from the lows around 700 this year , the all time lows at 600s was holding up and this confirms my view that a bear market bottom is already in BDI index.

As the BDI index has risen from 700 to 1200-1400 already , I see shipping lagging a bit , but it should be a fantastic buy opportunity before a sharp rise higher.

I wont rule out DSX , Diana shipping might see 7.5 before going higher – but the chart suggest that DSX is good for a long term buy here at 7-8 level$ with a potential upside target of 20-25$ per share. If you are a long term investor I would recommend to get some shares of DSX at current levels with a potential multibagger potential.

This is one of the few sectors out there which is still in the abyss but showing signs that making bottom formation.

We have a large yearly pattern – inverse head and shoulders and since 2012 most shipping stocks been making higher highs and higher lows.

With oil price low right now , it should benefit shippers too , also that the chinese mkts open up for more investment should help this sector.


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