Ascending Triangle in DryShips (DRYS)

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By Andy Swan | Published 04/9/2008 | Stocks | Unrated

Ascending Triangle in DryShips (DRYS)

Over the last 30 days, DryShips Inc. (DRYS) has created an ascending triangle. After creating this ascending triangle, DRYS broke resistance at 67.50, three days ago on heavy upside volume. This break in DRYS indicates it will complete the measured move and rally toward 80 in the next 10 days.

Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.

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