DryShips Inc DRYS Stock Technical Analysis June 4, 2012

The following is technical analysis DryShips Inc DRYS Technical analysis for June 4, 2011

DryShips Inc DRYS  Resistance, pivot & Support Levels - 6/4/2012

Resistance levels: $2.93, $2.76, $2.44

Pivot point: $2.27

Support levels: $1.95, $1.78, $1.46

Dryships Inc. (DRYS) stock is now trading near $2 last week week.Dryships Inc. (DRYS) is now trading under all moving average. DryShips (DRYS) will now have resistance level at $2.44 & $2.90. Drys has strong support at $1.75.I added more long side  under $2 any market correction. This is my one of the Top Pick for 2012.

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