Breakwave Tanker Shipping ETF (BWET)

Breakwave Tanker Shipping ETF is trading at $386.75, up 1.98% on the session. The 50 day average sits at $222.27 and the 200 day at $n/a, which puts the stock in a mixed technical position. RSI is at 82.8, which reads as overbought, and MACD is bullish crossover. Volume is above average.

The nearest support is around $251.80 with resistance near $383.31, so that band frames the current range. Average daily movement is roughly $21.14, or about 5.5% of the share price, which is what any stop placement has to allow for. The overall health score of 53 out of 100 combines a trend score of 75, momentum of 66 and a risk score of 0.

Freight Futures reflect market expectations for the future cost of transporting crude oil. Each Reference index is published each United Kingdom business day by the London-based Baltic Exchange Ltd. and measures the charter rate for shipping crude oil in a specific size category of cargo ship and for a specific route.