The following is technical analysis on DryShips, Inc. (DRYS) for November 30, 2009DryShips, Inc. (DRYS) Support and Resistance Levels - 11/30/09
Resistance Levels - $6.40, $6.64, $7, $7.30
Support Levels - $6, $5.66, $5.50, $5.00
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DryShips, Inc. (DRYS) continues to hold the 200 day moving average on the latest pullback. Intraday support is located at $6 while resistance is $6.40 as well as $6.64. DRYS has basically traded flat since April 2009. Each spike has made a lower high recently with the latest one being $7.30. Use these highs as resistance levels to watch. As soon as one is broken, the chance of a sustainable break out is much greater. I own DRYS for my long term portfolio and I don't plan on adding anymore until the stock closes over $8. I will buy more in my trading portfolio when DRYS breaks $7.30. For More Technical Analysis - Go Here
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