Shares of Eagle Bulk Shipping Inc (NASDAQ:EGLE) are testing a major breakout point on the daily chart at $4.90. This trend line is found by connecting the highs from June 28th, 2017 and September 21st, 2017. Should Eagle Bulk Shipping Inc break above this trend line, it may start a cascade short squeeze taking the stock to $6.50 or higher. I am a big believer in shipping stocks right now as they are discounted heavily in comparison to almost all other transportation stocks amid the global growth story. If there is major global growth like economists believe, the shipping companies should do extremely well in 2018.