NYSE:GNK Genco Shipping & Trading Limited
The price had a breakout at ~17$ ( ) which correlated with a high . At the same time we see a pattern and a negative divergence. This indicates that the price could show some weakness. If the price closes today (15th of June) below the pattern the probability is high that the price will retrace back to ~17$ or even to ~15$ (here we have a multiyear which should show some significance (weekly chart)). Reversal patterns at these support levels can be used as entry points.