The following is technical analysis on DryShips, Inc. (DRYS) for November 2, 2009DryShips, Inc. (DRYS) Support and Resistance Levels - 11/2/09
Resistance Levels - $6.60, $7.50, $7.99, $8.67
Support Levels - $5.95, $5.57, $5
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DryShips, Inc. (DRYS) continues to trade below all three major moving averages. Technically, this is very bearish and is the reason I will not be adding to my long term postion any time soon. Drys must hold $5.97 on a closing basis or more selling pressure could hit the stock. DRYS has major resistance at $7.50 and when the stock finally closes back over this level, I plan to buy more stock on the break out. For More Technical Analysis - Go Here
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