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

Posted: Wednesday, October 07, 2009 3:25 PM EDT

Genco Shipping & Trading (GNK) leads the list of top gainers so far today and is now at $21.58, up $1.18 (5.78%) on volume of 1,537,115 shares traded. Over the last 52 weeks the stock has ranged from a low of $6.43 to a high of $29.89. Genco Shipping & Trading stock has been showing support around $19.57 and resistance in the $21.07 range. Technical indicators for the stock are neutral 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 a November out-of-the-money bull-put credit spread below the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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