DRYS - DryShips Inc.

Industry: Shipping Sector: Services

Sell Candidate
Fri 21'st Apr 2017

VOLUME
Buy
TREND
Sell
MV LONG
Sell
MV SHORT
Sell
PIVOT
Sell
MACD
Buy
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DryShips Inc. Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Sell candidate since 2017-04-20 Loss -8.28%

DryShips Inc. fell by -8.28% in the last day, from USD 1.69 to USD 1.55 , and has now fallen 3 days in a row. The price has fallen in 8 of the last 10 days and is down by -62.38% for this period. Volume has increased in the last day by 6.07 million shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 10.91 million shares bought and sold for approximately USD 16.91 million.

Trend

DryShips Inc. lies in the middle of a very wide and strong falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -69.7% during the next 3 months and, with 90% probability hold a price between USD -2.58 and USD 2.33 at the end of this period.

Signals

There are few to none technical positive signals at the moment. DryShips Inc. holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at USD 1.83 and USD 4.86. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday April 19, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Relative Strength Index (RSI)

RSI14 is 8 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.

Support & Resistance

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days. On the upside the stock meets some resistance from accumulated volume at USD 1.74, USD 1.71 and USD 1.76.

Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved USD 0.18 between high and low, or 11.76%. For the last week, the stock has had a daily average volatility of 14.63%.

DryShips Inc. is overbought on RSI14 (8). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Evaluation

DryShips Inc. holds several negative signals and is within a very wide and strong falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.

Sell Candidate

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