A.P. Moller - Maersk (AMKBY) , the Danish integrated transport and logistics company, is probably the world's largest shipping company and offers container vessels, supply ships, special vessels, terminals.
Let's check out the charts.
In this daily bar chart of A.P. Moller-Maersk's Denmark-traded shares, below, we can see that prices broke down from a major top pattern earlier this month when prices broke below 16,000. Trading volume increased this month telling us that traders are voting with their feet.
The On-Balance-Volume (OBV) line has been in a sharp decline since March. The Moving Average Convergence Divergence (MACD) oscillator is bearish.
In the weekly bar chart of A.P Moller, below, we can see a major top pattern playing out over several months. A neckline at 16,000 has been broken. The 40-week moving average line has a negative slope.
The weekly OBV line is breaking a three year uptrend. The MACD oscillator is bearish.
In this weekly Point and Figure chart of A.P. Moller listed in the OTC market under the ticker in the U.S. under the ticker ( AMBKY) , the price levels are different but the top pattern is the same. A significant downside price is being projected -- $6.31 down from $10.43 -- a sizable percentage decline.
Bottom-line strategy: In the weeks ahead when you drive past a major port you are likely to see more and more containers with Maersk painted on the side but sitting idle instead of on a container ship.
Avoid the long side of this global shipper and consider it a canary in a coal mine.
