Genco Shipping & Trading (GNK) NewsBite - One of Today's Top Gainers So Far

Posted: Tuesday, July 14, 2009 10:27 AM EDT

Genco Shipping & Trading (GNK) leads the list of top gainers so far today and is now at $20.14, up $1.29 (6.84%) on volume of 425,052 shares traded. Over the last 52 weeks the stock has ranged from a low of $6.43 to a high of $69.40. Genco Shipping & Trading stock has been showing support around $16.54 and resistance in the $20.00 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for GNK. If you are looking for a hedged play on GNK the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 17 range. [ABR-Seven Summits Strategic Investments NewsBite]

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