Times are tight for Genco Shipping. GNKGoals are 18.83, 17.87. Invalidation at 26.85.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
GNK
Have we missed the ship?This company operates a fleet of dry bulks transporting commodities. This stock break up from range between $14.80 to $17 on 9 June with slightly higher than usual volume.
As the price has broken out from range, there is higher probability of a retest around $17 but if price stays above $18, the next target is $24 or beyond. Will be interesting to see price movement next few days.
The nearest support is at $18 if more conservative, else would be around $17.
Possible World Cup winning UK company sharesGreene King, ITV and Sports Direct all potentially reversing longer term declines