Transports leading the morning price action (NYSE:NAT)

by Josh Transport and logistics stocks are the leading industry in the morning trade today, up an average of 1.06% with half of the transport stocks up at least .42%.

Nordic American Tanker ($NAT) is continuing it’s multi month coil pattern this morning, nearing resistance. Nordic American Tanker is at $8.36 on a volume of 220,994 shares here half an hour after the open. Shares have been coiling since July and most recently tested the bottom of the coil (support) last week.

Over the past 52 weeks NAT has traded from a low of $7.00 to a high of $12.00. Key moving averages have all flattened out, with shares trading right atop the 200, 50, and 20 day simple moving averages.

52 Week Range $7.00-$12.00 Market Cap 631,871,316 Average Volume 1,052,172 Dividend Yield 7.65% Institutional Ownership 34.90% Insider Ownership: 0.00% Percentage of Float Short 15.00% Beta 1.20

Nordic American Tankers Ltd formerly Nordic American Tanker Shipping Limited is an international tanker company that owns approximately 20 modern double-hull Suezmax tankers, including four newbuilding vessels, averaging approximately 157,000 dwt each.

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