Genco Shipping & Trading Ltd 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 stock price after Wednesday trading.
(Updated on Nov 20, 2019)
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
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