Re: LPG shippers - crash
The 50 dma is at $34.86 and it tends to act as a magnet when a stock starts falling. But as we saw with TRMD, the 50 dma can also give way when it is tested, especially on stocks that have had big gains.
Getting back to LPG, during its great run, it seemed to trade in a upsloping channel, the top of which intersects with the 50 dma and the bottom of which is about $30-31, which aligns with a support level. All of these channels are drawn with a crayon, so it could very.