Safe Bulkers

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Safe Bulkers ( SB) is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the consumers of marine drybulk transportation services. This stock closed up 2.5% to $5.24 in Thursday's trading session.

Thursday's Range: $5.10-$5.25
52-Week Range: $3.12-$6.66
Thursday's Volume: 257,000
Three-Month Average Volume: 202,965

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From a technical perspective, SB spiked higher here back above its 50-day moving average at $5.19 with above-average volume. This move is quickly pushing shares of SB within range of triggering a major breakout trade. That trade will hit if SB manages to take out some near-term overhead resistance levels at $5.44 to $5.75 with high volume.

Traders should now look for long-biased trades in SB as long as it's trending above some near-term support at $4.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 202,965 shares. If that breakout hits soon, then SB will set up to re-test or possibly take out its 52-week high at $6.66.

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