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Wednesday, 10 January 2018

Safe Bulkers (NYSE: SB): 10 January 2018, Wednesday, 10.21pm Singapore Time

Safe Bulkers (NYSE: SB): 
10 January 2018, Wednesday, 10.21pm Singapore Time
(Click on Technical Chart above to Enlarge)

Attached above is the technicals for Safe Bulkers Inc (NYSE: SB), a shipping industry related stock that is listed in the NYSE for riding up the bottoming out of the shipping cycle worldwide. In the short term, Safe Bulkers has finished backtesting the band of moving average supports and is awaiting breakup of the red classical resistance line. In the mid-long term, Safe Bulkers is on strong uptrend and the trend is one's best friend. The volume flow has been healthy. For the large background, the baltic dry index indicating the health of the shipping industry had bottomed out (refer BDI link attached). Fundamentally, the forward earnings for Safe Bulkers for next year is expected to be good and forward earnings for the next 5 years is expected to be reasonably decent. Target: +100% upmove.

Previous Baltic Dry Index Analysis as Background:

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