Long Position on GLOG @ $28.50 on 4/25/2014 (Momentum)

GasLog Ltd. (GLOG) owns, operates, and manages vessels in the liquefied natural gas (LNG) market worldwide.

It provides maritime services for the transportation of LNG and LNG vessel management services.

As of April 10, 2014, the company’s fleet consisted of 18 wholly-owned LNG carriers. It also had 9 LNG carriers operating under its technical management for third parties. The company was incorporated in 2003 and is based in Monaco. 

Yesterday, the firm announced sale of about $84 million of bond. The offering was oversubscribed as investors were more than happy to lend their money to Gaslog. The firm annoucned purchase of three additonal LNG ships using the proceeds. 

Shares have formed a bullish "cup and handle" and prices are expected to move higher out of this formation.

52-Week Trading Range: $12.02 - $28.73

Entry Point: $28.50

Stop Loss: $27.07

Target Price: $31.35

Updates

5/1/2014 9:58:03 AM

GLOG fell below our stop loss. We do still believe in the company.

Position closed on 5/1/2014 at price of $26.85 with a -5.79% loss in 6 days.

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