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Genco Shipping & Trading (GNK)

Updated: 13 Sep 2021

Entry level: Either $20.60 or waiting for a pullback to support at $20 or a lower trendline around $19.60 as the move has been quite powerful and probably unsustainable for much more like this. Similar move in April might serve as a good reference point

Price target: Around $23, based on the average of previous 2 breakout move gains before they undercut 10-day MA. 21-day EMA held it nicely for larger gains

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