DRYS has been on my radar in the past few days and this evening, I took some time to study DRYS on a longer time-frame chart. (Part of my New Year Resolution!)
I’ve circled all the points that DRYS reacted to the major Fibonacci Retracement points, and not surprisingly, today’s closing price is exactly at the 50% Fib. Retracement from October High to December Low.
My prediction is that the prices of DRYS will retrace back a bit to the $12.60-ish level, before continuing its upward clime again.
Let’s see how it will turn out. Meanwhile, chime in if you have some feedback to share!
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