Chart of the Day: Overseas Shipholding - Crude Oil Tankers
The Chart of the Day belongs to the crude oil shipping company Overseas Shipholding (OSG). I found the stock by sorting Barchart's Top Stocks to Buy list first by the most frequent number of new highs in the last month, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 7/21 the stock gained 32.31%.
OSG vs Daily Moving Averages ( )
Overseas Shipholding Group, Inc., together with its subsidiaries, owns and operates a fleet of oceangoing vessels. Its vessels are engaged in the transportation of crude oil and petroleum products in the United States flag trade. As of December 31, 2021, the company owned or operated a fleet of 24 vessels totaling an aggregate of approximately 1.7 million deadweight tons. It serves independent oil traders, refinery operators, and the United States and international government entities. The company was founded in 1948 and is headquartered in Tampa, Florida.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals but increasing
- 42.51+ Weighted Alpha
- 16.54% gain in the last year
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 29.49% in the last month
- Relative Strength Index 81.37%
- Technical support level at 2.95
- Recently traded at 3.03 with 50 day moving average of 2.39
Fundamental factors:
- Market Cap $268 million
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts and the individual investors on Motley Fool have not discovers this stock yet
- Both Value Line and CFRA's Marketscope rate the stock a hold
- The authors on Seeking Alpha have 2 strong buy and 1 buy recommendation on the stock
- 3,180 investors are monitoring the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in OSG, over the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.
