XLON:GNK
Delisted

Genco Shipping & Trading Ltd Stock Forecast

£8.49
+0 (+0%)
At Close: Nov 20, 2019
RSI low/high Values: [ 20 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.

Genco Shipping & Trading Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Nov 20, 2019)

Buy candidate since Nov 20, 2019 PDF

No changes to the price of Genco Shipping & Trading Ltd stock on the last trading day (Wednesday, 20th Nov 2019). During the last trading day the stock fluctuated 0% from a day low at £8.49 to a day high of £8.49. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.

The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £8.48 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Genco Shipping & Trading Ltd stock with a 90% probability to be traded between £8.59 and £8.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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GNK.L Signals & Forecast

The Genco Shipping & Trading Ltd 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 £8.49 and £8.48. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, November 19, 2019, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Genco Shipping & Trading Ltd stock

Genco Shipping & Trading Ltd finds support from accumulated volume at £8.46 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: £8.15 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GNK.L) For The Upcoming Trading Day Of Thursday 21st

For the upcoming trading day on Thursday, 21st we expect Genco Shipping & Trading Ltd to open at £8.49, and during the day (based on 14 day Average True Range), to move between £8.48 and £8.50, which gives a possible trading interval of +/-£0.0068 (+/-0.08%) up or down from last closing price. If Genco Shipping & Trading Ltd takes out the full calculated possible swing range there will be an estimated 0.16% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £8.46, some £0.0300 (0.35%) from the current price of £8.49, our system finds the risk reward attractive.

Is Genco Shipping & Trading Ltd stock A Buy?

Several short-term signals 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 stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.016 Buy Candidate Upgraded

Predicted Opening Price for Genco Shipping & Trading Ltd of Thursday, November 21, 2019

Fair opening price November 21, 2019 Current price
£8.49 ( 0%) £8.49

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GNK.L

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 8.49 .
R2 8.49 .
R1 8.49 .
Current price: 8.49
Support S1 8.49 .
S2 8.49 .
S3 8.49 .

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 8.49
Support S1 8.46 -0.353%
S2 8.41 -0.94%
S3 8.40 -1.06%

FAQ

What is the symbol for Genco Shipping & Trading Ltd Stock and on which exchange is it traded?
The symbol for Genco Shipping & Trading Ltd is GNK.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Genco Shipping & Trading Ltd Stock?
Several short-term signals 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 stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Genco Shipping & Trading Ltd Stock?
Genco Shipping & Trading Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Genco Shipping & Trading Ltd Stock.

What's the current price of Genco Shipping & Trading Ltd Stock?
As of the end of day on the 2019-11-20, the price of an Genco Shipping & Trading Ltd (GNK.L) share was £8.49.

What is the 52-week high and low for Genco Shipping & Trading Ltd Stock?
The 52-week high for Genco Shipping & Trading Ltd Stock is £626.40 and the 52-week low is £4.90.
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