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Overseas Shipholding (OSG) Upgrade Alert, Watch for 9% Technical Downtrend Reversal - 11/3/2009 8:42:21 AM

By Chip Brian, SmarTrend Analytics Team
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Overseas Shipholding (NYSE:OSG) upgraded to Outperform from Market Perform, $48 target, at FBR Capital. The stock closed yesterday at $37.42 on volume of 612,654 shares, above average daily volume of 0.

Overseas Shipholding is currently below its 50-day moving average of $39.06 and should find support at its 200-day moving average of $33.42.

SmarTrend is bearish on shares of OSG and our subscribers received a Downtrend alert on October 26, 2009 at $41.13, which has returned 9% to date.

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