TUGS range bound price action continues

Harbor Star Shipping Services, Inc.

TUGS continue its range bound price action with immediate support area around 3.15~3.24 and immediate resistance around.

See previous TUGS analysis for reference including trading plan:
https://psetrends.blogspot.com/2017/04/tugs-on-range-bound-price-action.html

TUGS on a Range-Bound price action

Harbor Star Shipping Services, Inc.

TUGS is on a Range-Bound price action after the recent breakdown from its Upward Price Channel and a breakdown from a Head-and-Shoulder Top pattern.

*Immediate resistance is around 3.60.
*Immediate support area is around 3.15~3.24.

The measured breakdown target near 3.0 from a Head-and-Shoulder Top pattern was also hit after the recent dip to 3.01. See previous analysis on Head-and-Shoulder Top pattern breakdown for more details:
https://psetrends.blogspot.com/2017/03/tugs-on-immediate-trend-breakdown.html

Trading Plan
- Range trade the price action with appropriate target and stop-loss.

TUGS rebound from support

Harbor Star Shipping Services, Inc.

TUGS on a rebound from its immediate support area around 3.16 ~ 3.24.
- Immediate trend along the recent uptrend price channel has been broken already.
- With the recent rebound from MA50 around the support area, monitor for a new trend to develop.

*Still be cautious of pullback (back to recent breakdown area) followed by breakdown continuation..

Trading Plan
- Can initiate a new trend trading position using MA50 as trend following indicator.
- Stop-loss/Trailing-stop on a few points breakdown from MA50

TUGS on immediate trend breakdown

Harbor Star Shipping Services, Inc.

TUGS is on a breakdown from the following patterns:
- Breakdown from a Head-and-Shoulder Top pattern (projected TP is near 3.00)
- Breakdown from the Uptrend Price Channel (projected TP is near 2.75)

*Immediate support area is around 3.16 ~ 3.24.

Trading Plan

- Avoid for now until new trend develops or consolidation area has been established.

TUGS consolidation (update)

Harbor Star Shipping Services, Inc.

TUGS consolidation continues and it's now getting closer to the support line of the current uptrend price channel.

*Trend trading opportunity remains intact.
*Avoid on price channel breakdown (a potential Head-and-Shoulder Top breakdown if that happens).

See previous analysis for Trading Plan template:
https://psetrends.blogspot.com/2017/02/tugs-consolidation-continues.html

TUGS consolidation continues

Harbor Star Shipping Services, Inc.

TUGS continues to consolidate towards the support line of the uptrend price channel. This consolidation/pullback has been warned already by a prior bearish divergence pattern on RSI and EFI.

*MA20 acting as immediate support area for the current uptrend.
*Resistance area around 4.00~4.13.

Trading Plan
- Trade the trend of TUGS using MA20 or the uptrend support line as entry point (use the Stochastic crossover and pointing up as reference timing signal).
- Stop-loss should be on price channel breakdown. Can use the breakdown from MA50 as stop-loss for those willing to take higher risk.
- Avoid on price channel breakdown.