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Another Chance to Jump Aboard SFL

Ship Finance International Limited (NYSE: SFL ) - This shipping company operates vessels and offshore-related assets including 32 oil tankers, eight bulk carriers and a variety of other ships.

The stock has risen from $13 in July 2009 to over $23 this month. Following a break and run from $15 in February 2010 to $21 in March, SFL began consolidating within a right triangle .

On Oct. 11, at $19.85, the Trade of the Day said, "Last week, upside volume increased and the stock broke through the bearish resistance line of the eight-month triangle with a trading objective of $23."

And, on Nov. 10, the Trade of the Day said, "We are now raising our target to $25 and suggest buying the stock on a pullback to $20.50 or lower."

This opinion is reinforced by a recent top, which suggests that a shallow pullback is occurring. Buy SFL on weakness.

The stock pays an annual dividend of $1.44 for a yield of almost 6.5%.

Trade of the Day - SFL Stock Chart
Trade of the Day Chart Key

If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net .

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


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

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