Safe Bulkers, Inc. (NYSE: SB)

Safe Bulkers, Inc., a marine drybulk transportation services company, engages in the acquisition, ownership, and operation of dry bulk vessels worldwide. The company transports various bulk cargoes, primarily coal, grain, and iron ore. As of March 14, 2013, it had a fleet of 25 dry bulk vessels. Safe Bulkers, Inc. was incorporated in 2007 and is based in Athens, Greece.
To review Safe’s stock, please take a look at the 1-year chart of SB (Safe Bulkers, Inc.) below with my added notations:

Over the last 3 months SB had created a strong level of resistance at $11 (green), which also constituted a 52-week high resistance. A breakthrough that level would most likely mean higher prices for the stock. As you can see from the chart, SB finally broke higher last week and should be hitting new highs moving forward. The increase in volume on the break (blue) should add “validity” to the breakout.

The Tale of the Tape: SB broke out to a new 52-week high. A long trade could be made near $11 with a stop placed below that level. A break back below $11 would negate the forecast for a continued move higher.
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