Genco Shipping & Trading Ltd Warrants Stock Forecast
Genco Shipping & Trading Ltd Warrants stock price up 0.0987% on Thursday
(Updated on Apr 18, 2024)
The Genco Shipping & Trading Ltd Warrants stock price gained 0.0987% on the last trading day (Thursday, 18th Apr 2024), rising from $20.26 to $20.28. During the last trading day the stock fluctuated 2.09% from a day low at $20.05 to a day high of $20.47. The price has risen in 6 of the last 10 days but is still down by -1.31% for this period. Volume fell on the last day by -7 thousand shares and in total, 392 thousand shares were bought and sold for approximately $7.95 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 20.98% during the next 3 months and, with a 90% probability hold a price between $24.53 and $27.63 at the end of this 3-month period.
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GNK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genco Shipping & Trading Ltd Warrants stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $20.53 and $20.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -4.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Genco Shipping & Trading Ltd Warrants stock
Genco Shipping & Trading Ltd Warrants finds support from accumulated volume at $19.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.420 between high and low, or 2.09%. For the last week the stock has had daily average volatility of 2.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GNK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 to open at $20.27, and during the day (based on 14 day Average True Range), to move between $19.80 and $20.76, which gives a possible trading interval of +/-$0.483 (+/-2.38%) up or down from last closing price. If Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 takes out the full calculated possible swing range there will be an estimated 4.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.38 (0.49%) than the support at $19.87 (2.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 stock A Buy?
The Genco Shipping & Trading Ltd Warrants stock holds several negative signals and despite the positive trend, we believe Genco Shipping & Trading Ltd Warrants will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.752 Sell Candidate Unchanged
Predicted Opening Price for Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $20.27 ( 0.0657%) | $20.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.69 | 2.01 % | |
| R2 | 20.53 | 1.21 % | ||
| R1 | 20.43 | 0.725 % | ||
| Current price: | 20.28 | |||
| Support | S1 | 20.11 | -0.86 % | |
| S2 | 20.01 | -1.35 % | ||
| S3 | 19.85 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.69 | 2.02 % | |
| R2 | 20.42 | 0.690 % | ||
| R1 | 20.38 | 0.493 % | ||
| Current price | 20.28 | |||
| Support | S1 | 19.87 | -2.02% | |
| S2 | 19.49 | -3.90% | ||
| S3 | 17.93 | -11.59% |
GNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 05, 2024 | Mar 13, 2024 | $0.410 | 1.97% |
| 2 | Nov 08, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.150 | 0.97% |
| 3 | Aug 03, 2023 | Aug 15, 2023 | Aug 23, 2023 | $0.150 | 1.08% |
| 4 | May 02, 2023 | May 15, 2023 | Aug 23, 2023 | $0.150 | 1.08% |
| 5 | Feb 22, 2023 | Mar 06, 2023 | Mar 14, 2023 | $0.500 | 2.97% |
FAQ
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