Star Bulk Carriers Corp

Company Overview: Star Bulk Carriers Corp is a multinational shipping firm headquartered in Greece. It owns and runs a dry bulk carrier fleet. The vessels of the Company transport big bulks such as iron ore, coal, and grain, as well as lesser bulks such as bauxite, fertilizers, and steel goods. Its fleet comprises 128 ships with carrying capacities ranging from 52,247 to 209,537 dwt.

As per our previous US Dividend Income report published on SBLK on 07th December 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 18.76 based on ‘lower interest costs, wide fleet coverage, positive outlook, upside indicated by valuation and key risk’, and the stock price has now moved by ~19.40% since then and the price has attained the Resistance 1 and Resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

SBLK’s Daily Chart

Considering the resistance around the long-term (200-day) SMA, resistance 2 and target attainment levels, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “SBLK” at the current market price of USD 22.40 (as of 18 January 2023, at 06:46 am PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 18^th January 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Disclaimer

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