Genco Shipping

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