This Ship-Owner Stock Looks Strong
10/12/2010 12:01 am EST
Ship Finance International Limited (SFL) - This company owns and operates vessels and offshore-related assets including oil tankers, bulk carriers, and a variety of other ships.
The stock has risen from $13 to over $20 since July 2009. Following a break and run from $15 in February to $21 in March, SFL had been consolidating within a right triangle.
But last week, upside volume increased and the stock broke through the bearish resistance line of the eight-month triangle with a trading objective of $23.
SFL pays an annual dividend of $1.53, a yield of almost 8%.
By Sam Collins of OptionsZone.com