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TMCNet:  Traders Get Bullish on Shares of Genco Shipping & Trading, Shares Up 6.1% (GNK)

[January 03, 2013]

Traders Get Bullish on Shares of Genco Shipping & Trading, Shares Up 6.1% (GNK)

Jan 03, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Genco Shipping & Trading (NYSE:GNK) is one of today's best performing low-priced stocks, up 6.1% to $3.80 on 1.2x average daily volume. Genco Shipping & Trading has traded 542,000 shares thus far today, vs. average volume of 446,000 shares per day. The stock has outperformed the Dow (6.1% to the Dow's 0.1%) and outperformed the S&P 500 (6.1% to the S&P's 0.2%) during today's trading.
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Genco Shipping & Trading Ltd. offers shipping services. The Company's drybulk carrier ships transport iron ore, coal, grain, steel, and other products.

Genco Shipping & Trading share prices have moved between a 52-week high of $10.12 and a 52-week low of $2.09 and are now trading 82% above that low price at $3.80 per share. The 200-day and 50-day moving averages have moved 1.15% lower and 0.19% lower over the past week, respectively.

Genco Shipping & Trading (NYSE:GNK) defies analysts with a current price ($3.80) 31.3% above its average consensus price target of $2.61. The stock should discover initial support at its 200-day moving average (MA) of $3.62 and subsequent support at its 50-day MA of $2.98.

SmarTrend recommended that subscribers consider buying shares of Genco Shipping & Trading on December 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.31. Since that recommendation, shares of Genco Shipping & Trading have risen 8.3%. We continue to monitor GNK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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