Torm is a U.K.-based refined-oil shipping company with a fully owned fleet of more than 80 vessels. In August, Torm reported time charter equivalent rates more than doubled in the second quarter, and company management said the market has been even better so far in the third quarter. In fact, the stock jumped 10% after Torm said rates had more than tripled from 2021 levels in the current quarter. Torm has also taken advantage of a seller's market to divest seven of its oldest vessels since late 2021. Surging shipping rates have sent Torm shares higher by 153.9% in 2022.
RSI Diversion noted.
Possible M forming that would take this down a notch or 2 but it is too son to tell.
Price is above the .236 today.
A Pocket pivot noted a few trading days ago.
No recommendation
RSI Diversion noted.
Possible M forming that would take this down a notch or 2 but it is too son to tell.
Price is above the .236 today.
A Pocket pivot noted a few trading days ago.
No recommendation