Long Term Trading Analysis for (GNK)

November 23, 2024, 09:02 am ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for GNK

• Buy GNK near 16.12 target 18.7 stop loss @ 16.07 Details

The technical summary data tells us to buy GNK near 16.12 with an upside target of 18.7. This data also tells us to set a stop loss @ 16.07 to protect against excessive loss in case the stock begins to move against the trade. 16.12 is the first level of support below 16.86 , and by rule, any test of support is a buy signal. In this case, support 16.12 would be being tested, so a buy signal would exist.

• Short GNK slightly under 18.7, target 16.12, stop loss @ 18.75 Details

The technical summary data is suggesting a short of GNK as it gets near 18.7 with a downside target of 16.12. We should have a stop loss in place at 18.75though. 18.7 is the first level of resistance above 16.86, and by rule, any test of resistance is a short signal. In this case, if resistance 18.7 is being tested, so a short signal would exist.

Swing Trading Plans for GNK

• Buy GNK slightly over 17.55, target 18.7, Stop Loss @ 17.5 Details

If 17.55 begins to break higher, the technical summary data tells us to buy GNK just slightly over 17.55, with an upside target of 18.7. The data also tells us to set a stop loss @ 17.5 in case the stock turns against the trade. 17.55 is the first level of resistance above 16.86, and by rule, any break above resistance is a buy signal. In this case, 17.55, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GNK slightly near 17.55, target 16.83, Stop Loss @ 17.6. Details

The technical summary data is suggesting a short of GNK if it tests 17.55 with a downside target of 16.83. We should have a stop loss in place at 17.6 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 17.55, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for GNK

• Buy GNK slightly over 16.93, target 17.55, Stop Loss @ 16.89 Details

If 16.93 begins to break higher, the technical summary data tells us to buy GNK just slightly over 16.93, with an upside target of 17.55. The data also tells us to set a stop loss @ 16.89 in case the stock turns against the trade. 16.93 is the first level of resistance above 16.86, and by rule, any break above resistance is a buy signal. In this case, 16.93, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GNK slightly near 16.93, target 16.59, Stop Loss @ 16.97. Details

The technical summary data is suggesting a short of GNK if it tests 16.93 with a downside target of 16.59. We should have a stop loss in place at 16.97 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 16.93, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Genco Shipping & Trading Limited New (marshall Islands) (GNK) available here: GNK.

GNK Ratings for November 23:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	16.12
P2	16.59	16.83	18.7
P3	16.93	17.55	21.3

AI Generated Signals for GNK

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Genco Shipping & Trading Limited New (marshall Islands) (NYSE: GNK) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for GNK change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if GNK is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for GNK too.  All of these are offered below the Summary Table.