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Wednesday 24 January 2018

Mermaid Maritime: 24 January 2018, Wednesday, 2.50pm Singapore Time

Mermaid Maritime: 
24 January 2018, Wednesday, 2.50pm Singapore Time
(Click on Technical Chart above to Expand)

Attached is the technicals for Mermaid Maritime, in line with my forewarnings of 2H-2017 and January 2018 that the shipping and shipbuilding industries had rock bottomed with the commodities sector (includes energy and oil).  The dark brown region is the shakeout region and the double black lines are resistances-turned-supports that firmly establish the confirmation of rock bottom for Mermaid Maritime. There were two back-tests (double green circles) to confirm that the bottom is over, i.e. the stock has ROCK BOTTOMED.

 This is in line with my live fore-warnings in 2H-2017 that the shipping and shipbuilding industry WORLDWIDE has bottomed out (rock bottomed).

The Donovan Norfolk Technical Rating:
Very Bullish
(Expected to rally for the rest of 2018 and into 2019)

Past Related Analyses (MUST READ IN DETAIL):


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