Long Position on GNK @ $16.25 on 2/7/2022 (Fundamentals)

Genco Shipping & Trading Limited (GNK) engages in the ocean transportation of dry bulk cargoes worldwide. 

The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

As of February 24, 2021, the company fleet consisted of 17 Capesize, 9 Ultramax, and 15 Supramax with an aggregate capacity of approximately 4,421,000 deadweight tons.

Shares are setting at a support level. Shares are supported by the stock's 50-day moving average and trendline support. The Company is scheduled to report its result on February 24th. Higher share prices are expected for this stock.

Entry Point: $16.25

Stop Loss: $15:20

Trading Range: $8.00 - $22.00

Target Price: $17.85

Updates

2/10/2022 10:15:17 AM

GNK closed at $18.55

Position closed on 2/10/2022 at price of $18.55 with a 14.15% gain in 3 days.

Back to Portfolio