Frontline – Precious Cargo

stocks.jpg

Shares of Frontline Ltd. (USA) (NYSE:FRO) popped above an important resistance line of $6 on very heavy volume.  

WallStNation.com Sponsors - Become one Today

Share of the company have been tanking over the past year but they seemed to have leveled off in the last six months.  Then, today’s movement on very heavy volume could be a sign of good things to come for Frontline.

It seems today’s price movement is related to a report that demand for oil tankers is rebounding, with shipments of oil to China picking up dramatically.  Technical traders should take note of today’s important spike in volume and price appreciation, it could be signaling a price reversal for the stock.

Given that oil prices staying over the $100/barrel mark, and the upcoming summer months tend to push oil prices even higher, the stock’s price movement may be signifying something bigger for company investors.  Frontline (NYSE:FRO) is one to keep your eye on.

Frontline Ltd., through its subsidiaries, engages in the ownership and operation of oil tankers and oil/bulk/ore (OBO) carriers. It primarily transports crude oil; and raw materials, such as coal and iron ore.

FRO  shares closed the day at $7.65, up 23.79% on 13.1M shares traded.

FRO
 

WallStNation.comThanks for visiting WallStNation.com, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)


Share WallStNation.com Content

Share this article with others, WallStNation.com is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary




Please Review the WallStNation.com Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details