Skip to main content

Market Overview

Tech View: Transportation (OSG)

Share:

According to Katie Stockton, analyst at MKM Partners, technical analysis of the transportation sector reveals that the sector, particularly shippers will outperform the broad market indices. The positive momentum exhibited by the sector has allowed it to reach new highs with the broader market.

The iShares Dow Jones Transport. Avg. (ETF)
(NYSE: IYT) exceeded the 61.8% Fibonacci retracement of their May 2008-March 2009 downtrend based on the weekly TMAP model which consists of 20, 35 and 50 period moving averages of price.

Overseas Shipholding Group (NYSE: OSG) confirmed a breakout above resistance at January and October 2009 highs. Initial support is seen at $45 with increasing potential for volatility within the framework of the long term uptrend.

 

Related Articles (ETF + IYT)

View Comments and Join the Discussion!

Posted-In: Katie Stockton MKM PartnersAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com