just a heads up on the EXM long setup. EXM is another shipping stock in the long setups category and although it is up about 19% today so far on above average volume, it is breaking out above the previous mentioned break-point. i have added a third target (T3) to this chart, which although nearly 200% above, could be possible if the market holds up for a while and the momo traders pile in to the sector, afraid to miss a possible bottom. again, high return potential = high risk potential so DYODD and be adjust your position size accordingly (and don’t forget your stops!).
btw- for those who prefer trading etfs vs. individual stock, SEA is a shipping etf that might fit the bill.