$SHIP Shores Up Technical Base with Heavily Shorted Small Float

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SHIP shares appear to just be tracing a lateral range. But a closer look suggests an important base has been established and the former bear trend has died a quiet death with new accumulation underway.

The trendline is busted and the base was built off a 3-step bullish RSI divergence.

Note: more than a third of the small float is held short.