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Hot Stock: Eagle Bulk Shipping, Shares Gain 9.8% (EGLE)
Jan 28, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Eagle Bulk Shipping (NASDAQ:EGLE) is one of today's best performing low-priced stocks, up 9.8% to $2.36 on 1.5x average daily volume. Eagle Bulk Shipping has traded 641,000 shares thus far today, vs. average volume of 414,000 shares per day. The stock has outperformed the Dow (9.8% to the Dow's -0.1%) and outperformed the S&P 500 (9.8% to the S&P's -0.1%) during today's trading.
Eagle Bulk Shipping (NASDAQ:EGLE) is currently priced 15.3% above its average consensus analyst price target of $2.00. The stock should find resistance at its 200-day moving average (MA) of $3.24, as well as support at its 50-day MA of $2.07.
Eagle Bulk Shipping Inc. owns a fleet of dry bulk vessels and transports a range of major and minor bulk cargoes. The Company transports iron ore, coal, grain, cement, and fertilizer along worldwide shipping routes.
Eagle Bulk Shipping share prices have moved between a 52-week high of $11.76 and a 52-week low of $1.32 and are now trading 79% above that low price at $2.36 per share. Over the past week, the 200-day moving average (MA) has gone down 2.8% while the 50-day MA has declined 2.4%.
SmarTrend is tracking the current trend status for Eagle Bulk Shipping and will alert subscribers who have EGLE in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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