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Shipping Stock Set to Launch Off Support

By: Sam Collins
Posted: 8/16/2010 8:01:00 PM
Referenced Stocks: SCG;SFL

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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