Shipping Corp - need to remain cautious and vigilant
SCI is a cheap psu stock trading at 8x p/e and has not participated in the latest psu run. That said, it has failed to close above the 162 levels (0.5 fibonacci) for the 3rd time on daily charts. In the previous 2 instances the next move was a decent sell off. New longs only on 2 days closing above 162 levels.
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