Finally a breakout from the 4.50 area which has been serving as resistance for the past year. story is driven by improving earnings and a strengthening baltic dry index which has been making higher lows ever since 2-2016. we are coming off of a very very long pattern with the baltic dry index making a multi decade bottom back in feb 2016. stock has been getting a bit hot in relation to the 21 day ema and created a bear trap with that long wick upside down hammer on the chart just a couple days ago. rather than pull back to the 21 day ema {which i expected} it turned and ran higher with a high momentum MACD cross and broke previous resistance with a solid daily close. all eyes are now on if it can hold that previous resistance level as support. so long as the baltic dry index keeps improving this stock could be on it's way to the $7 range as the oversupply from the 2008 era dry bulk boom has mostly been worked through. also note we have been above 2015 avg levels on the baltic dry index for the trailing 12 months. 2015 is the far left side of the chart where that cluster of sideways trading is. unless the index goes parabolic i would expect to see resistance in that area. a stop as low as 4.10 could be argued depending on your risk tolerance and timeframe. also note we still have not had a consolidation pullback since the new uptrend began on the last earnings report.