Ardmore Shipping Corp

ASC is entrenched in a Stage 4 decline with sequential lower highs and lower lows trading below the falling EMAs. Medium-term asymmetry favors the downside, and short-term price behavior is rejecting rallies into the 9/21 EMA zone, making now an opportune moment to establish bearish exposure. Execution should occur around the EMA confluence near the 50 DMA, targeting rejections at resistance, while a sustained move back above the 20 EMA would invalidate the short thesis.

• ↑Q1 2026 adj. earnings of $23.6M ($0.58/share) reflecting robust operations
• ↑Quarterly dividend up from $0.09 to $0.39, boosting yield to 2.42%
• ↓Over half the fleet will be over 20 years old by 2031, raising maintenance and compliance costs