Genco Shipping & Trading Ltd Forecast and Stock Analysis
Technical GNK.L stock analysis for February 15, 2019.
|Shorts||5.02% ( 2019-01-31 )|
Genco Shipping & Trading Ltd gained 0.80% in the last trading day, rising from £599.40 to £604.20 The price has risen in 6 of the last 10 days and is up by 1.17% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 200 257 more shares were traded than the day before. In total, 716 594 shares bought and sold for approximately £432.97 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the GNK.L stock was £604.20. This is 0.8% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.25% from a day low at £595.40 to a day high of £608.80.
30 day high of the GNK.L stock price was £619.40 and low was £583.00.
90 day high was £619.40 and low was £490.40.
52 week high for the Genco Shipping & Trading Ltd - £652.20 and low - £454.00.
Genco Shipping & Trading Ltd lies in the middle of a wide and 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 22.57% during the next 3 months and, with 90% probability hold a price between £707.55 and £808.46 at the end of this period.
Only positive signals in the chart today. Genco Shipping & Trading Ltd holds buy signals from both short- and long-term moving averages. In addition, 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 £603.60 and £588.47. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Genco Shipping & Trading Ltd finds support from accumulated volume at £600.40.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £13.40 (2.25%) between high and low. For the last week, the stock has had a daily average volatility of 2.25%.
Our recommended stoploss: £570.03 (-5.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term.