Genco Shipping & Trading Ltd Warrants Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Genco Shipping & Trading Ltd Warrants stock price after Wednesday trading.
(Updated on May 01, 2024)
The Genco Shipping & Trading Ltd Warrants stock price gained 1.97% on the last trading day (Wednesday, 1st May 2024), rising from $21.34 to $21.76. During the last trading day the stock fluctuated 2.96% from a day low at $21.27 to a day high of $21.90. The price has risen in 8 of the last 10 days and is up by 7.4% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 508 thousand shares were bought and sold for approximately $11.05 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.
The stock lies in the middle of a strong 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 17.09% during the next 3 months and, with a 90% probability hold a price between $24.79 and $27.07 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $21.38 and $20.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 9.95%. 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 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.
Support, Risk & Stop-loss for Genco Shipping & Trading Ltd Warrants stock
On the downside, the stock finds support just below today's level from accumulated volume at $20.42 and $20.38. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Genco Shipping & Trading Ltd Warrants finds support just below today's level at $20.42. If this is broken, then the next support from accumulated volume will be at $20.38 and $19.49.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.630 (2.96%) between high and low. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $20.84 (-4.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (GNK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 to open at $21.64, and during the day (based on 14 day Average True Range), to move between $21.32 and $22.20, which gives a possible trading interval of +/-$0.436 (+/-2.00%) 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 4.00% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.42, some $1.34 (6.16%) from the current price of $21.76, our system finds the risk reward attractive.
Earnings coming up
Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.460. We will update the financials statements for Genco Shipping & Trading Limited Warrants Expiring 12/31/2021, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.04% in the first trading day after earnings release.
Is Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 stock A Buy?
Genco Shipping & Trading Ltd Warrants holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.411 Strong Buy Candidate Upgraded
Predicted Opening Price for Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $21.64 ( 0.536%) | $21.76 |
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 | 22.27 | 2.36 % | |
| R2 | 22.03 | 1.25 % | ||
| R1 | 21.88 | 0.570 % | ||
| Current price: | 21.76 | |||
| Support | S1 | 21.40 | -1.64 % | |
| S2 | 21.25 | -2.33 % | ||
| S3 | 21.01 | -3.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 21.76 | |||
| Support | S1 | 20.42 | -6.16% | |
| S2 | 20.38 | -6.34% | ||
| S3 | 19.49 | -10.43% |
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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