Scorpio Bulkers Inc (SALT)

[THREE-DAY-TRADER]

At this point, I'm looking at entry for a quick rebound trade on SALT. It is nearing a dependable indicator "EMA(60)" from the Gallery View charts.
It might weaken some yet from low 1.30's, and clarity on capitulation is needed yet. But I am about ready to pull the trigger near lower 1's.

It is also significantly below its 9 & 20 day averages. I would anticipate a rebound toward those areas near 1.65 minimally, or as much as 2+.

And the fundamentals & financials are not great here, but certainly not bad enough to worry about in the short term, so sets stage for good entry soon.




http://stockcharts.com/freecharts/gallery.html?s=salt