by Sam Collins 06/26/08
Eagle Bulk Shipping Inc. (EGLE) --This U.S.-based marine transportation company has been in a bull market for several years and the Trade of the Day has regularly followed it.
On April 23, the Trade of the Day said, "After a consolidation around its 200-day moving average that started in January, EGLE has broken from the pattern and now appears capable of charging to new highs. This is a volatile performer but is supported by a dividend yield of over 6.75%."
And charge ahead it did, running from $29.10 to above $36 in just three weeks. It topped off on May 19, and then by June 12 it was back to the 200-day moving average at just under $28.
EGLE closed yesterday at $29.30, up $2.21 on high volume and looks capable of bouncing to at least $34 for a quick trade. But longer-term investors might want to hold onto EGLE for growth and a dividend yield of almost 7%.
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