Safe Bulkers, Inc. (SB)

[livingston78]

The company reported a revenue of $26.7m in 2014. The profit decline is attributed to the fact that the market is very volatile due to the volatility of the price of oil and the overall economy. SB holds a cash balance of $118.25 m and has current assets of $135.89m. The fact that the company only has outstanding debt of $28.7m is very interesting, and gives a current ratio of 4.73. Fundamentally, this company seems to be very well managed. The earnings are expected for May 27 and could cause a bullish movement. Since early March you can see the formation of an ascending triangle on SB. However, a breakout of the triangle on the downside will cancel the trade. Going all the way back to the beginning of 2015, a complex inverse head and shoulders pattern appears. The price target of both chart patterns both measure to $4.40 per share, or a 15.8% gain over today's closing price. In the event of a breakout, the volume should be bigger than the average to ensure validation and the continuation of the movement. Use a closing price of $3.80 on strong volume as confirmation of a breakout.