Bag NMM Even Cheaper Than Its Secondary? Wednesday, February 6, 11:13 AM ET, by Market News Video Staff Looking back to 5 days ago, Navios Maritime Partners LP (NMM) priced a 4,250,000 share ...
Ex-Div Reminder for Seaspan Corp (SSW) Tuesday, February 12, 11:45 AM ET, by Market News Video Staff On 2/14/13, Seaspan Corp (SSW) will trade ex-dividend, for its quarterly dividend of $0.25, payable ...
TNK Ex-Dividend Reminder - 2/28/13 Tuesday, February 26, 11:47 AM ET, by Market News Video Staff On 2/28/13, Teekay Tankers Ltd (TNK) will trade ex-dividend, for its quarterly dividend of $0.03, ...
TK Stock Crowded With Sellers Tuesday, February 26, 12:33 PM ET, by Market News Video Staff In trading on Tuesday, shares of Teekay Corp (TK) entered into oversold territory, changing hands ...
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Wednesday, shares of Genco Shipping & Trading Ltd (NYSE:GNK) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $6.64 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 38.1. A bullish investor could look at GNK's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of GNK shares:
According to the ETF Finder at ETF Channel, GNK makes up 2.06% of the Guggenheim Shipping ETF (AMEX:SEA) which is trading lower by about 3.5% on the day Wednesday.
GNK operates in the Shipping sector, among companies like Golar LNG Partners LP (NASDAQ:GMLP) which is trading flat today and has a current RSI reading of 60.1. Below is a three month price history chart comparing the stock performance of GNK, versus GMLP.
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