The following is technical analysis on DryShips, Inc. (DRYS) for October 19, 2009DryShips, Inc. (DRYS) Support and Resistance Levels - 10/19/09
Resistance Levels - $7.50, $7.99, $8.67
Support Levels - $7.00, $6.50, $5.97
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DryShips, Inc. (DRYS) stock continues to trade back over all three major moving averages. I started a small long position last week in which I plan to add to in the coming months. On Thursday, the 10 day moving average broke up through the 200 day moving average, something not seen in over a year. I plan to add to my position when DRYS breaks up through $7.50 & $8.00. The next major resistance level will be at the $8.64 high from early June 2009. On the downside, there is major support under $6. If I get another chance to buy below this level, I will do so. For More Technical Analysis - Go Here
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