Mermaid Maritime Plc

[crabcrab]

Mermaid ($0.39) - Technically, the symmetrical rounded double bottom formation that last for about a year, has reached the tip of a RHS of the resistance turned support level at $0.385. Although there might still be some nimor selling due to the near high stochastics, MACD & DIs have turned positive. On the whole, the offshore & Marine industry seems to have entered a new cyclical phase that may last for a few years. Abundance of contracts have bode well for this sector. Mermaid has also confirmed its turned around last last quarter and coming results is expected to continue to be excellent. Major shareholder,TTA has recently completed its rights issue, hence supporting a good source of funding support, if any.... Let's hope for the best... (Caveat Emptor, Crabcrab vested).