International Seaways (INSW) shares retreated during intraday trading as the stock consolidated within its short-term corrective uptrend. The pullback comes after INSW recently broke through a key medium-term downward trendline, signaling a potential shift in market structure, while maintaining its position above the 50-day moving average.
While the Stochastic oscillator shows overbought conditions with emerging negative signals, the stock’s ability to hold above the 50-day SMA suggests underlying strength. The current dip may represent a healthy breather following its recent breakout.
Traders are watching whether INSW can stabilize near current levels, which could set the stage for another push higher if the corrective uptrend resumes. The stock’s medium-term trajectory will depend on its ability to sustain above the 50-day SMA and convert former resistance into support. A successful consolidation could reinforce the bullish case for further upside.
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