Shipping Stock Set to Launch Off Support

By Sam Collins,

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Ship Finance International Limited (NYSE: SFL ) - This company is an international operator of vessels and offshore related assets consisting of 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, SFL has been consolidating within a right triangle .

After a false breakout in July, the stock reversed, but it should find support within the triangle with its bullish support line at $18 and the 200-day moving average at $17.

SFL pays an annual dividend of $1.53, a yield of almost 8%, and has a trading target of $23-plus.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: SCG , SFL

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