Put "ICON" on Your Radar! |
| | | | | Hey Folks Get ready for another exciting stock idea! Icon Energy is an international shipping company that provides worldwide seaborne transportation services for dry bulk cargo. This includes includes major bulk such as iron ore, coal, grains and bauxite, and minor bulks such as steel, sugar, fertilizers, cement and scrap metal. | | | With the world becoming increasingly globalized, shipping companies like Icon may be in a good position to benefit! Speaking of benefitting... The trade volume in the shipping industry has been trending upwards over the past 3 years or so. | | | Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. | If the current trajectory continues then Icon Energy is likely to have plenty of untapped market to attend to. This is only amplified by the growing consumer sentiment (according to Bloomberg)... We recently had the fastest two month increase in consumer sentiment since 1991. | | | Usually big moves like that are followed by steady periods of increasing consumer sentiment, as seen in the 1990s and the 2010s. On top of all of that, we also have a strong Geopolitical catalyst that has resulted in higher shipping prices over the past year... The conflicts in the Red Sea has made it difficult for shipments between Asia and Europe, creating an environment where Icon Energy can step in and benefit. | | | Here's where things get interesting... With all these broader elevating factors, ICON has a big one related to their fundamentals. The company has applied for a Petroleum Lease over the entire area of the Keppel Gas Project in accordance with the revised Regulations made in the beginning of August. What does this mean from a fundamental standpoint? It signals that there is a potential piece of news dropping in the coming months, which ICON bulls will be keeping an eye on.
In fact, they may already be paying attention! | | | If we look at the technicals of ICON, we can see that a potential support level formed around the $2 price range. This is a sign that bulls of Icon Energy may be taking over the show! Anyways...
That's all for now!
Until Next Time, -Damian | P.S. Want our text alerts? Text "ZIPTRADER" to 1-(855)-228-1598 to sign up!
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