International Seaways, Inc. (INSW) Draws Bullish Attention After Forming Inverse H&S Pattern

May 27, 2018 - By Hazel Jackson

The stock of International Seaways, Inc. (INSW) formed H&SI with $19.55 price target or 5.00 % above the current $18.62 share price. The 5 months Head & Shoulders Inverse reveals low risk for the $542.51 million company. This trade was featured by Faxor.com on May, 27. If the $19.55 target price is reached, the company’s valuation will be $27.13M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 1.38% or $0.26 during the last trading session, reaching $18.62. About 98,584 shares traded. International Seaways, Inc. (NYSE:INSW) has declined 10.13% since May 27, 2017 and is downtrending. It has underperformed by 21.68% the S&P500.

Analysts await International Seaways, Inc. (NYSE:INSW) to report earnings on August, 8. They expect $-0.58 EPS, down 583.33 % or $0.70 from last year’s $0.12 per share. After $-0.78 actual EPS reported by International Seaways, Inc. for the previous quarter, Wall Street now forecasts -25.64 % EPS growth.

More news for International Seaways, Inc. (NYSE:INSW) were recently published by: Streetinsider.com, which released: “Paulson’s 13F Shows New Stake in Goldcorp (GG), Increase in Discovery (DISCA), Viacom (VIAB) (more…)” on May 15, 2018. Globenewswire.com‘s article titled: “Investor Expectations to Drive Momentum within Government Properties Income Trust, International Seaways, SELECT …” and published on May 18, 2018 is yet another important article.

International Seaways, Inc. owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. The company has market cap of $542.51 million. It operates through two divisions, International Crude Tankers and International Product Carriers. It currently has negative earnings. The companyÂ’s fleet consists of ultra large crude carriers, very large crude carriers, Aframaxes, and Panamax crude tankers, as well as long and medium range product carriers.

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