Guys guys, after the last couple days here with ctrm, you better be listening to that freaking snoop dogg song going absolutely nuts, it's the hass d, o double g snoop dogg! Let's go what is up! Everybody welcome to trace trades where you get technical analysis and different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks, i can purchase by saying that i'm not a financial, advisor or expert so take what i say with A grain of salt, let's get into the video today, my friends, we're gon na give you guys an update on ticker symbol, ctrm, an absolute grand slam stock here, gosh dang it i'm so pumped for everybody out there that made some quick cash with this play. It has been an absolute home, run, absolutely filthy right. We brought this to the radar way back when it was in the 30 cent range brought it back up to you again here when it was in the 80 cent range. I saw some nice things on the charts here said: hey guys, i've got one 1.50 price target on this hope you guys are able to capitalize on this we're gon na give you an update, see how this is looking.

So, let's get into the video we're gon na talk about the fundamentals of the company right: the! Why? Why should you care? Why is this a good company? Why do i think it has potential right we're gon na look at some recent news articles that did help push some of the price action here today and then we're gon na get into the meat and potatoes, which is the charts right. We're gon na look at the one month chart as well as the one day one minute chart to get both the macroscopic and microscopic perspective of the price action. I've got a couple. Different indicators pulled up right: the rsi, which is a relative strength index anything over 70s or a bot.

Anything under 30 is oversold, and then i've got the 200 dma, which is this purple trend line and the 15 day ma, which is this blue trend line? The 200 dma is the exponential moving average. This is a price, action-based valuation trend line over a 200-day moving period, which gives us a macroscopic perspective of the overall price action right. Then, we've got the 15-day m8, which is the moving average. Some brokerage accounts call this.

The sma, the simple moving average - they are one the same. This is a price action based valuation trend line over a 15 day moving period, which gives us a microscopic perspective of price action. We use these side by side, so we can predict upcoming, breakouts right from the microscope, microscopic price action compared to the overall macroscopic price action and uh yeah, we've seen some great stuff here, so we're gon na look at that. Look at the overall volume that came into this right: we're gon na drop a fibonacci retracement to get an idea of how much this might pull back if you're looking to establish a position, whether you should take profits or not right, the whole nine yards.

So, let's get right into the video: what does the company do? What is the why caster marine time is a cypress-based company? The company is engaged in the ocean transportation of dry bolt cargos worldwide through the ownership and operation of bolt carrier vessels. It also aims to increase its fleet through acquisitions of new and modern vessels, so essentially what they do is they transport? You know bulk cargo, a bunch of different varieties of things right and there's always going to be a demand for this sort of work in the market right, we're always gon na no matter how big an airplane is right, it can only carry so much stuff, you're Gon na need large transportation, uh services such as seaborne transportation. These vessels right in order to transport dry bulk goods, and we see that ctrm cash marine time is a company that does that we're committed to promoting honest and ethical business conduct through our operations right. It's castro's shipping, it's magic uh.

We are a growth oriented global shipping company engaged in the seaboard transportation of a wide range of dry bulk commodities along worldwide shipping routes. Through our ownership of dry bulk vessels, we can see that in 2018 the company was established as caster under that ticker right entered the nasdaq under ccrm and then they they uh. They bought out a couple different vessels 2019. They took delivery of magic, sun, magic, moon, magic, rainbow magic horizon magic, nova, magic, lightning, magic, shadow, realm right, uh they've got a lot of great stuff in here, so that has been good.

If we look over here at recent press releases for investors right, you can see as of today february 11th. This did help drive the price action under my suspicions. Right if i had to guess, i think anybody would guess that we see that they acquired some new fleets, so caster marine time incorporated announces the end block acquisition of two afromax lr2 tankers with time charters attached. So let's read the first paragraph here: uh lim limit soul, cypress february 11, 2021 ctrm, a diversified global shipping company announces that it has entered through two separately wholly owned subsidiaries into agreements to purchase two 2005 korean-built afromax lr2 tankers from an unaffiliated uh third-party seller.

For an aggregate purchase price of 27.2 million dollars, both vessels have attached time charter contracts with a reputable charter with an estimated remaining term of about one year, each of which help provide the company with a minimum gross daily higher of 15 dollars and have a fifty Percent profit sharing arrangement over such level based on a predetermined formula. So if i'm gon na take a stab at what this means, a fifty percent profit sharing arrangement right. That means that the the contract gives them about fifty percent profit over this deal, so keep that, in the back of your mind, the charter has the option to extend the duration of each contract for an additional one-year term. As of now, it is a one-year term for both of these vessels and in addition, the vessels have very recently completed their scheduled special surveys and dry dockings and are equipped with ballast water treatment systems.

So you got to think of a ctrm. Basically, as an uber eats right, a large scale. Uber eats every time that you have an uber eats driver. They need to have a vehicle to deliver the to deliver.

The food right it'd be basically impossible without the car. So ctrm, without these, these vessels right can only capitalize on so much money right as a bitcoin mining operation. If you had one computer mining bitcoin, you can make some money, but with 10 000 computers you can make a lot more money right. It's the same premise with ctrm the more vessels they acquire the more promising.

This company looks my friends, my family. I think that this could be just the beginning. I do think it's gon na have a pullback we're gon na get into that right, but i do think this could be just the beginning of what's on the horizon for ctrm no pun intended, but i think there's a lot of great stuff about this company. So uh with that being said, you know i had a dollar fifty price target on this.

If you got in at 80 cents, you are already up over 100 and if you were playing this off as a swing trade, which is how i presented it right, you can definitely take profits. There's no harm in that in the least bit um. If, if you are looking to do this mid to long term, i think there's potential there as well, so we'll play this off for both of those situations. If you are looking to do so so right off the bat, one thing that i want to point out to is the overall retracement right: how much does this retrace? How much is it giving back? This is a strong chart.

So actually, if we pull this down to this uh level right here, this candle wick right, it doesn't even retrace 23.6 percent if we pull it up to the top candle wick, it's just barely broken beneath 23.6 percent. So if it was to pull back right, what is that going to look like? Well, we do have this nice ascending level of support right here. We always look for three touch points: to validate a level of support, right or or resistance. We get that one.

Two! Three four: five, six uh different touch points. This is a validated ascending level of support, so it can play out one of two ways if you're looking at swing trading - and you want to hold your position right, it could, it could hold here - could hold at this 164. This could have been a false breakdown or it could drop down to 38.2 percent retracement right if it ends up breaking beneath that we do have this ascending level of support that has been respected on the charts for six touch points. At least we always look for three right and here in the pre-market or the regular market hours on friday, which are open for any of those out there wondering monday will be closed just since you were fully aware right.

This is a validated level of support. So if you do break beneath this 38.6 retracement at 146, we do have a nice level of support sitting right here at about a buck 41 in the pre-market or about a dollar 43 here at the regular market hours. So, if you're looking to take profits, this is a swing trade you're up over 100. Absolutely no! Shame in that whatsoever.

I'd be very, very happy walking away up over 100 in the last four days or whatever this ended up taking right. That's that's dirty! That's absolutely! Filthy, in fact, if we look at this right and we want to drop a trend line, we had a nice clean upward moving channel. Here we had an ascending level of resistance and an ascending level of support. We broke this descending level of resistance with a wide range candle and uh that to me, we see this right here.

That's that wide range candle, it's a candle, stick that covers a lot of price action. That's to be indicated that we actually began a new upward trajectory, a more violent upward trajectory uh. We can see here that we did end up breaking that right. We have a wide range candle that breaks that right here.

Obviously look. We look for three touch points, one two, three, four break it with a wide range candle right. We can see we've officially uh, disrespected that, and we are now in a downward moving trajectory uh in the after hours, so it does look like it's probably gon na have a pullback. This is the first time in a little bit in which it actually has had a little bit of a pullback right.

So in order for us to break out of that, we need to come out of this downward moving channel right. We see this descending level of resistance descending level of support in order to break that, we need to break above this descending level of resistance. Now i don't think it's going to move in this downward channel that violently for the next. You know uh.

You know a couple hours here at the end of the extended market hours or in the pre-market. I find it pretty likely to bust out of that, but i do think it'll pull back regardless right. It's just how much it's going to pull back so my two cents. If i had to guess, i think that dollar 46 range is pretty likely.

You know, maybe maybe it doesn't happen here in the pre-market. Maybe it just is a slow bleed leading into the following trading day, because it is up over 100, it's been very overbought on the rsi right, it's been over 70 for quite some time right, which means this is extremely bullish territory. It's probably a little bit overvalued for the time being, but i do think in the long term uh. I would say right now this this stock is probably worth about ten dollars.

Uh. That's that's what i would give it as a price value right. Of course it doesn't matter, i'm just one guy but and i think in the long term, it's very realistic to see this graduate at a penny stock realm. So if you are willing to hold, as this pulls back as it made to long-term investment right, what i would do, if you were doing that right is to wait for it to come down to about a buck.

46, add to your position and then let it come back up right. You could take profits as well. Take profits on the little bits you have and then reinvest it back at a dollar 46 average up in that way, so you can lock in profits, rinse and repeat, rinse and repeat right or if you play this off as a swing trade, you want to walk Away right now, there's no shame in that you might. You might miss a little bit more of a run-up uh if you're worried about that.

Maybe you take profits on half. Let the other half ride, play on house money, see what happens if it ends up pulling back. You take those profits too. There's no shame in that whatsoever.

So that's how that is looking right now we did break out of this this level right here and in fact one thing: that's cool about uh levels of support and resistance is once they have been broken right. This level of resistance has been broken. This is now an acting level of uh support as well, so i do anticipate that you'll very likely see a bounce here at this level, or at least some sort of bounce. You know some resistance uh trying to hold at this level here in the pre-market at about a buck 53 to a buck 55..

So there's a lot of levels in here that should be holding up ctrm. It has a lot of buying strength right. If we look historically at pullbacks, how much does the stock usually pull back right? We can take a quick peek. You know this.

This is kind of an asterisk, because this is part of the wsb situation, a pullback 78.6 percent. So if we come back here right and take a look at these pullbacks, i think these will tell us more about the stock. This would be a little more realistic right. We can see that pulled back about 50, which is a very healthy pullback.

That indicates a lot of buying strength. That indicates a very strong stock right, and this is a good company. I feel very good about about ctrm. I think they actually do have some very solid long-term, at least mid-term potential.

I would say long-term as well. I don't see any any sort of niche market that is going to ever get rid of the need for uh, seaborn transportation and those sort of vessels right, and you can never have too much competition right, um in the sense where monopolization such as apple or microsoft. Right, i don't see that really existing in the seaborne transportation world - it's very possible, but as things sit right now, i i think ctrm stands very great for a mid to long term investment. If you're swing trading this you're up over 100, you got into this back at 80 cents, you're sitting absolutely beautiful right now you can take profits on half, let the other half ride or you can just take it.

You can just take it 100. 100. You cannot be mad with whatsoever, especially in a one week span span of trading. That is absolutely beautiful.

My friends and i feel very good about that right now, so, coming into the one day, one minute are looking for any last minute validations. We do have the 15 ma crossed underneath the 200 ema. This has officially entered some bearish territory. We are on this downward moving channel.

As i did mention previously right. We saw a huge run up to about 1.95 a little bit of price rejection, uh and it did come back down, but overall we did still set higher lows and higher highs uh. We are just barely hanging out right below this uh ascending level of support that we saw in the macroscopic charts right. We have, i wouldn't quite call this a validation of a break, yet you can't have you know instances like this right, where it breaks.

Barely a little bit of a false break comes back up same here right. We want to see a hard move, there's not a lot of volume pumping into this right now to validate this breakdown. I think that there is there's potential that it does hold over that ascending level of support. I don't know if it'll quite continue to run like it has right, it's very possible if there's a lot of momentum and volume here it had a lot of volume today, if we come back to the one month chart, you can see this right.

It had a crap ton of volume, i'm actually interested on the daily chart, how much it had. This is the highest it's seen in a little while right. So it's it's on the move, my friends, it's looking absolutely beautiful and we have seen that in the past. This company was worth quite a bit, so i'd be very interested to see what ends up happening here with ctrm.

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Thank you for watching my friends and i'll see you all. Next time, peace.