This Shipping Stock Has Set 15 New Highs This Month

• Costamare (CMRE) has robust technical momentum and simply set a brand new 52-week excessive.

• Shares have a 100% technical “Purchase” opinion from Barchart.

• CMRE inventory is up practically 30% in simply the final month.

• Analyst sentiment is combined, however Morningstar sees CMRE as 19% undervalued and Looking for Alpha charges it a “Robust Purchase.”

Valued at $1.9 billion, Costamare (CMRE) is a containership proprietor chartering its vessels to liner corporations. The corporate deploys its containership fleet principally below multi-year time charters with main liner corporations that function commonly scheduled routes between giant industrial ports.

Costamare additionally supplies a spread of delivery companies, resembling technical help and upkeep, insurance coverage consulting, monetary and accounting companies. Costamare is headquartered in Athens, Greece.

I discovered at the moment’s Chart of the Day through the use of Barchart’s highly effective screening capabilities to kind for shares with the best technical purchase alerts; superior present momentum in each energy and route; and a Pattern Seeker “purchase” sign. I then used Barchart’s Flipcharts characteristic to overview the charts for constant value appreciation. CMRE checks these bins. Because the Pattern Seeker signaled a brand new “Purchase” on Nov. 3, the inventory has gained 29.61%.

Editor’s Observe: The technical indicators beneath are up to date stay through the session each 20 minutes and may subsequently change every day because the market fluctuates. The indicator numbers proven beneath subsequently could not match what you see stay on the Barchart.com web site while you learn this report. These technical indicators type the Barchart Opinion on a selected inventory.

Costamare hit a 52-week excessive of $16.25 in buying and selling on Dec. 3.

• CMRE has a Weighted Alpha of +49.62.

• Costamare has a 100% “Purchase” opinion from Barchart.

• The inventory gained 21.97% over the previous yr.

• CMRE has its Pattern Seeker “Purchase” sign intact.

• The inventory just lately traded at $16.08 with a 50-day transferring common of $12.95.

• Costamare has made 15 new highs and gained 29.53% within the final month.

• Relative Power Index (RSI) is at 81.54.

• There’s a technical help stage round $15.50.