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