Safe Bulkers is a shipping company that seems poised to go higher.
After breaking out of the GoNoGo Squeeze in August which led to a new “Go” trend and a sharp move higher, $SB has seen price consolidate sideways and GoNoGo Oscillator rests at zero. Staying positive throughout the trend suggests that momentum is in the direction of the Go trend and we will look to see if it can again bounce into positive territory. If it does, we will see a green Go Trend Continuation icon appear under the price bar. With little overhead resistance in the recent past we could look for targets around 2014 highs of almost $12.
