Genco Shipping & Trading saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, with an upgrade from 69 to 76.
How To Invest In Stocks In Both Bull And Bear Markets
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their biggest price moves. See if Genco Shipping & Trading can continue to rebound and hit that benchmark.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buying range in heavy volume.
While revenue growth fell last quarter from -14% to -39%, earnings-per-share grew 0%, up from -33% in the previous report. The company is expected to report its latest numbers on or around Aug. 6.
The company holds the No. 18 rank among its peers in the Transportation-Ship industry group. Cap Clean Energy Carriers, Euroseas and Global Ship Lease Cl A are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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