$BDRY Breakwave Dry Bulk ETF : Week 21 commentary.

by Dave Walker

$BDRY profile: ”The Fund’s investment objective is to provide investors with exposure to the daily change in the price of dry bulk freight futures, before expenses and liabilities of the Fund, by tracking the performance of a portfolio consisting of a three-month strip of the nearest calendar quarter of futures contracts on specified indexes that measure rates for shipping dry bulk freight.” Source: drybulketf.com

$BDRY Forward Freight Agreement weighting: Capesize: 50%, Panamax: 40%, Supramax: 10%.


Week 21 saw $BDRY once again on the threshold of our $12 – $14 upside resistance thoughts, closing at $12.21. Almost erasing the previous week’s fall, BDRY hit an $11.75 low early on before a tentative climb to the close.

Our RSI flattened out to 56.58, seemingly peakish, but this relatively young ETF has seen higher RSI values. The lagging MACD climbed to stop just shy of positive values, still in a bullish mood.

BDRY may be building a support base just below present levels, even as we keep an eye on our previous support thoughts in the $9 area. Any results of a possible squeeze remain to be seen, and upside resistance may still have the upper hand. So far BDRY appears to be in ‘hurry-up-and-wait’ mode, with a reluctance to push further. A little more dry bulk shipping optimism may be the key.


Week 21 Baltic Capesize Shipping Index:


Week 21 Baltic Panamax Shipping Index:


Week 21 Baltic Supramax Index:


*Disclaimer: Superior Maritime does not hold any stock in $BDRY.

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