TRMD - TORM - The Little Ship That Could

Summary

• 100% technical buy signals.
• 6 new highs and up 4.23% in the last month.
• Analyst price target at $25.00.

The Chart of the Day belongs to the petroleum Shipping company TORM ( TRMD ). I found the stock by sorting Barchart's Top Stocks to Buy list first by the highest Barchart opinion, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 7/26, the stock gained 40.57%.

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 221.45+ Weighted Alpha
• 170.51% gain in the last year
• Trend Spotter buy signal
• Above its 20-, 50- and 100-day moving averages
• 6 new highs and up 4.23% in the last month
• Relative Strength Index 58.61%
• Technical support level at 20.64
• Recently traded at $21.33 with 50-day moving average of $18.32

Fundamental factors:

• Market Cap $1.77 billion
• Revenue predicted to increase by 26.90% next year
• Earnings estimated to increase 179.50% next year

Analysts and Investor Sentiment - I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• A Wall Street analyst gave 1 strong buy recommendation on the stock.
• Analyst's price target is $25.00.
• The individual investors on Motley Fool voted 315 to 9 for the stock to beat the market with the most experienced investors voting 47 to 2 for the same result.
• 1,880 investors are monitoring the stock on Seeking Alpha.

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