DRYSHIPS INC (DRYS) Technical Analysis
NASDAQ:DRYS • MHY2109Q1017
Current stock price
DRYS Technical Rating and Analysis
We assign a technical rating of 9 out of 10 to DRYS. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, DRYS is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, DRYS did better than 88% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
- DRYS is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so DRYS is lagging the market slightly.
- In the last month DRYS has a been trading in a tight range between 5.20 and 5.25.
- Considerably lower volume is observed in the last couple of days.
DRYS Weekly and Daily overview Charts
DRYS Setup Rating and Analysis
Besides having an excellent technical rating, DRYS also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 5.24. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 5.24, a Stop Loss order could be placed below this zone.
More info and screens
DRYS Support and Resistance Analysis
3.13
We found 5 important support areas.
- A support zone ranging from 5.23 to 5.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @4.32 from a trend line in the daily time frame.
- Support @4.11 from a trend line in the weekly time frame.
- Support @3.46 from a trend line in the weekly time frame.
- Support @3.16 from a trend line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 5.24 to 5.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 6.04 to 6.10. This zone is formed by a combination of multiple trend lines in the weekly time frame.
DRYS Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for DRYS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for DRYS is up. |
| ChartMill Relative Strength | 88.64 | POSITIVE | DRYS has a high relative strength, it outperformed 88.64% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of DRYS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DRYS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of DRYS is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 71.05 | OVERBOUGHT | The high RSI value suggests DRYS may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests DRYS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 83.33 | OVERBOUGHT | The high Stochastics value suggests DRYS may be overbought. |
| Average True Range in percent/ATR (20) | 0.27 | LOW VOLATILITY | The low ATR as a percentage value for DRYS suggests low volalility. |
DRYS Chart- and CandleStick Pattern Analysis
DRYS Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 5.25 | 5.22 | 0.03 (0.58%) | 25.00% |
| An entry @5.25. This is a Buy Stop order right above the 10 day moving average. | An exit @5.22. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.03 points, which is 0.58%. | For a 0.15% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
DRYS Technicals: Chart, Performance Metrics, Trend & Indicators
5.24
-0.01 (-0.19%)
DRYSHIPS INC / DRYS TA FAQ
What is the ChartMill technical rating of DRYSHIPS INC (DRYS) stock?
ChartMill assigns a technical rating of 8 / 10 to DRYS.
What is the trend direction for DRYS stock?
The current trend direction for DRYSHIPS INC (DRYS) is Bullish.
What is the RSI signal for DRYSHIPS INC (DRYS) stock?
DRYSHIPS INC (DRYS) has an RSI value of 71.0483. This indicates that the stock is currently overbought.
What is the buy/sell signal for DRYSHIPS INC (DRYS) stock?
The buy/sell signal for DRYSHIPS INC (DRYS) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for DRYSHIPS INC?
DRYSHIPS INC (DRYS) has a support level at 5.24 and a resistance level at 5.24. Check the full technical report for our detailed analysis of DRYS support and resistance levels.