Ship Finance International – $SFL
2017-01-25 1:07:00 PM EST
Another member of the steadily-climbing stock-price club is Ship Finance International, a very diversified shipping company and component of the Guggenheim Shipping ETF, $SEA. Our previous commentary on SFL back in late September 2016 made noises about weakness and some downside worries. Indeed, SFL’s price took a wander off downwards to the 12.35 area. Once again, the US presidential election looks like the spark that lit the smoldering hopefulness of previous months. Building on support seen around 14.50 in the first half of December, there may be an additional support region at 15.00 or so. This might be a resting point, as checking the charts shows SFL’s Relative Strength Index getting into overbought territory, but with possibly slight bullishness on the Moving Average Convergence/Divergence.
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