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SBLK Approaching $16.90 Support

Written By: ChartChamp

November 22, 2024

SBLK has been trending down since getting rejected at $27.21. I have $16.90 as my next key support level. This trade was bought from Senator Tuberville, who has sold his position a few months ago. I still think SBLK can do well long term, but SBLK is just trading sideways in a range right now. $16.90 would be the target for buying, $24.72 and $27.21 are targets for selling. This is a longer term investment that will take several years to play out, and SBLK would need to form a breakout above $27.21 to rally towards $80.

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