Stock to Watch: Excel Maritime Carriers Up 18.3% (EXM)
Excel Maritime Carriers (NYSE:EXM) is one of today's best performing penny stocks, up 18.3% to $0.56 on 1.0x average daily volume. Thus far today, Excel Maritime Carriers has traded 1.0 million shares, vs. average volume of 1.0 million shares per day. The stock has outperformed the Dow (18.3% to the Dow's -0.1%) and outperformed the S&P 500 (18.3% to the S&P's -0.1%) during today's trading.
Excel Maritime Carriers Ltd. owns and operates dry bulk carrier vessels and provides worldwide sea borne transportation services for dry bulk cargo. Excel's business strategy is to expand and diversify its fleet to achieve economies of scale and marketing strength in each of the drybulk sectors in which it operates.
In the past 52 weeks, Excel Maritime Carriers share prices have been bracketed by a low of $0.36 and a high of $2.36 and are now at $0.56, 54% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 3.6% while the 50-day MA has advanced 0.4%.
Based on a current price of $0.56, Excel Maritime Carriers is currently 46.1% above its average consensus analyst price target of $0.30. The stock should find resistance at its 200-day moving average (MA) of $0.69, as well as support at its 50-day MA of $0.50.
SmarTrend is monitoring the recent change of momentum in Excel Maritime Carriers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Excel Maritime Carriers in search of a potential trend change.
Keywords: penny stocks excel maritime carriers