Long Position on SFL @ $10.90 on 10/25/2023 (Momentum)

SFL Corporation Ltd. (SFL) is a maritime and offshore asset owning and chartering company. 

The firm engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters.

The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.

As of December 31, 2022, the company owned 10 crude oil tankers, 15 dry bulk carriers, 32 container vessels, three car carriers, one jack-up drilling rig, one ultra-deepwater drilling unit, two chemical tankers, and six oil product tankers.

It primarily operates in Bermuda, Cyprus, Liberia, Norway, Singapore, the United Kingdom, and the Marshall Islands. 

Shares are rebounding from a trendline support. Shares just moved above their 50-day moving average. Higher share prices are expected.

Entry Point: $10.90

Stop Loss: $10:25

Trading Range: $8.43 - $11.52

Target Price: $12.90

Position closed on 11/27/2023 at price of $11.30 with a 3.67% gain in 33 days.

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