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Genco Shipping & Trading Rising on Above-Average Volume, Consistent With Trend (GNK)
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Genco Shipping & Trading shares are trading on heavy volume today, having risen 7.5% to $10.07. About 2.0 million shares have been traded today, as compared to the 30-day average volume of 577,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
SmarTrend recommended that subscribers consider buying shares of Genco Shipping & Trading on January 25th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.71. Since that recommendation, shares of Genco Shipping & Trading have risen 21.5%. We continue to monitor GNK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Genco Shipping & Trading has traded in a range of $4.15 to $12.82 and is now at $9.79, 136% above that low. The 200-day and 50-day moving averages have moved 0.13% higher and 1.33% higher over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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