Genco Shipping & Trading Ltd Warrants Stock Forecast
Stronger technical forecast for Genco Shipping & Trading Ltd Warrants stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Genco Shipping & Trading Ltd Warrants stock price gained 0.644% on the last trading day (Tuesday, 2nd Jul 2024), rising from $21.73 to $21.87. During the last trading day the stock fluctuated 2.53% from a day low at $21.36 to a day high of $21.90. The price has risen in 8 of the last 10 days and is up by 7.84% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 78 thousand more shares were traded than the day before. In total, 578 thousand shares were bought and sold for approximately $12.64 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.15% during the next 3 months and, with a 90% probability hold a price between $21.04 and $24.38 at the end of this 3-month period.
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GNK Signals & Forecast
Mostly positive signals in the chart today. The Genco Shipping & Trading Ltd Warrants stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.43 and $21.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 7.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Genco Shipping & Trading Ltd Warrants stock
Genco Shipping & Trading Ltd Warrants finds support from accumulated volume at $21.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.540 between high and low, or 2.53%. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: $20.92 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (GNK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 to open at $21.71, and during the day (based on 14 day Average True Range), to move between $21.36 and $22.38, which gives a possible trading interval of +/-$0.511 (+/-2.34%) 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 4.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.86 (0.05%) than the resistance at $22.44 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Genco Shipping & Trading Ltd Warrants stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.266 Buy Candidate Upgraded
Predicted Opening Price for Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $21.71 ( 0.732%) | $21.87 |
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 | |
|---|---|---|
| R3 | 22.25 | 1.74% |
| R2 | 22.04 | 0.794% |
| R1 | 21.92 | 0.212% |
| Price | 21.87 | |
| S1 | 21.50 | -1.67% |
| S2 | 21.38 | -2.26% |
| S3 | 21.17 | -3.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.71 | 3.84% |
| R2 | 22.65 | 3.57% |
| R1 | 22.44 | 2.61% |
| Price | 21.87 | |
| S1 | 21.86 | -0.0457% |
| S2 | 20.55 | -6.04% |
| S3 | 20.28 | -7.27% |
GNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | May 30, 2024 | $0.420 | 1.88% |
| 2 | Feb 21, 2024 | Mar 05, 2024 | Mar 13, 2024 | $0.410 | 1.97% |
| 3 | Nov 08, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.150 | 0.97% |
| 4 | Aug 03, 2023 | Aug 15, 2023 | Aug 23, 2023 | $0.150 | 1.08% |
| 5 | May 02, 2023 | May 15, 2023 | Aug 23, 2023 | $0.150 | 1.08% |
FAQ
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