In late September 2010 we revisited possible trading scenario for DRYS.
The stock has traded up 33% since this point and earnings are expected to be released tomorrow. This could create even more volatility for DRYS. Although it has been trading higher with the averages higher, it might be able to diverge from any near term market weakness if news is good.
Estmates for earnings are: 0.310 | 0.252 | 0.200
Looking briefly at the technical set up for DRYS price motion, previously a price target of 5.45 was targeted as a possible wave 5. DRYS has traded to 5.25 so far today.
This trading high is showing some divergences in the smaller time frames MACD. But, even looking at as small as a 5 minute trading time frame chart, this DRYS price high seems to be a new wave 3 high to a degree and is expected to be tested with a higher high in price.