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Stock to Watch: Genco Shipping & Trading Down 7.4% (GNK)May 18, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Genco Shipping & Trading (NYSE:GNK) is one of today's worst performing low-priced stocks, down 7.4% to $3.24 on 1.4x average daily volume. Genco Shipping & Trading has traded 1.5 million shares thus far today, vs. average volume of 1.1 million shares per day. The stock has underperformed the Dow (-7.4% to the Dow's -0.2%) and underperformed the S&P 500 (-7.4% to the S&P's -0.2%) during today's trading. Genco Shipping & Trading (NYSE:GNK) has potential upside of 30.3% based on a current price of $3.24 and analysts' consensus price target of $4.22. Genco Shipping & Trading shares should first meet resistance at the 50-day moving average (MA) of $5.41 and find additional resistance at the 200-day MA of $6.94. Genco Shipping & Trading share prices have moved between a 52-week high of $10.14 and the current low of $3.22 and are currently at $3.24 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 3.9%. Genco Shipping & Trading Ltd. offers shipping services. The Company's drybulk carrier ships transport iron ore, coal, grain, steel, and other products. SmarTrend recommended that its subscribers protect gains by selling shares of Genco Shipping & Trading on February 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $7.31. Since that call, shares of Genco Shipping & Trading have fallen 52.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 |