Stock Review: $TUGS | Harbor Star Shipping Services, Inc.

Harbor Star Shipping Services, Inc. (“Harbor Star” or the “Company”) is a leading integrated maritime service provider in the Philippines. Its line of services includes harbor assistance, lighterage, towage, ship salvage, ship management, diving and underwater marine works, and other specialized services. The Company is headed by Mr. Geronimo P. Bella, Jr., a second generation tugboat company operator, who has been in the industry for four decades.

Taking a look at it on a purely Technical Analysis

It started its accumulation phase last year around November and price action started mid July currently it’s on its distribution phase. So technically until there is no fundamentals or significant news $TUGS might continue to slide.

Support 1: ₽1.80

Support 2: ₽1.40

Resistance 1: ₽2.00

Resistance 2: ₽2.20

Recommendation: Sell, cut loss or take profit, then buy between ₽1.60 to ₽1.80 unless it breaks 1.40 which is you need to cut loss. If the price goes up,you can wait the ₽2.20 levels before buying again.