Genco Shipping & Trading saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 66 to 71.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor's Business Daily measures price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if Genco Shipping & Trading can continue to rebound and hit that benchmark.
Looking For The Best Stocks To Buy And Watch? Start Here
While now is not an ideal time to jump in, see if the stock goes on to form a base and break out.
The company reported negative growth for both the top and bottom lines last quarter.
Genco Shipping & Trading earns the No. 12 rank among its peers in the Transportation-Ship industry group. Star Bulk Carriers and Capital Product Partners are also among the group's highest-rated stocks.
