Genco Shipping & Trading stock saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an increase from 89 to 91. Shipping stocks have held up well during the market correction as some supply chain issues have eased.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength. This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks often have an RS Rating of at least 80 in the early stages of their moves.
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Is Genco Shipping & Trading Stock A Buy?
Since hitting a 52-week high of 22 on Sep. 16, Genco Shipping & Trading stock has pulled back into a consolidation. The stock has been trading just below the 200-day moving average. While the shipping stock is not near a proper entry right now, see if it manages to form and break out of a proper base. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Regarding top and bottom line numbers, the shipper has posted rising EPS growth in each of the last two reports. Sales gains have also moved higher during the same period.
Genco Shipping & Trading stock earns the No. 14 rank among its peers in the Transportation-Ship industry group. Costamare, Matson and Star Bulk Carriers are among the top 5 highly rated stocks within the group.
