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DryShips(DRYS - Get Report) is a holding company engaged in the ocean transportation services of drybulk cargoes and crude oil worldwide through the ownership and operation of drybulk carrier vessels and oil tankers and offshore drilling services through the ownership and operation of ultra-deepwater drilling units. This stock is trading up 4.2% to $2.52 in recent trading.
Today's Range: $2.38-$2.56
52-Week Range: $1.75-$3.84
Volume: 5.5 million
Three-Month Average Volume: 3.5 million
>>5 Technical Trades Under $10
technical perspective, DRYS is bouncing notably higher here right around its 50-day moving average of $2.27 with
above-average volume. This move is quickly pushing DRYS within range of triggering a major breakout trade. That trade will hit once DRYS takes out its 200-day at $2.58, and then once it clears some past overhead resistance at $2.60 with high volume.
Traders should now look for long-biased trades in DRYS as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 3,493,530 shares. If that breakout triggers soon, then DRYS will setup to re-test and possibly take out its next major overhead resistance levels at $3 to $3.40.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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Facebook.At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.