OVERSEAS SHIPHOLDING GRP
(OSG-NYSE):
Technical Viewpoint: From a low
of $34.41 on Apr 21, 2004 prices
rallied, reaching a
high of $37.60
on Apr 26, 2004. A
decline saw prices pull back, reaching a
low of
$31.60 on May 10, 2004.
Another rally saw prices penetrate
resistance, closing 6/1/04
at $41.37. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on May 19, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $38.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jun 1, 2004. A P&F upside
reversal takes place at $39.00. Summary: Technical indicators have turned bullish. BUY! OVERSEAS SHIPHOLDING GRP
(OSG-NYSE) @ $41.75 Stop: Use a protective stop of $39.75.
OVERSEAS SHIPHOLDING GRP is currently trading @ $41.37 plus $3.23 on Jun 1, 2004. Price Objective:
$51.75. Risk/Reward: $2.00 VS. $10.00. Today's Risk Reward Ratio: 5:1
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