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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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