Genting International is listed on the Main Board of the Singapore Exchange Securities Trading Limited. Its share price jumped from about S$0.30 in the middle of 2006 to early 2007 when the market was very excited about its prospect of securing the second integrated resorts with casino operation. Despite successfully securing that project, the share price has been dropping from the early 2007 until end 2008. From the chart below, we can see that Genting International has broken above its very strong horizontal resistance at S$0.47-48 as well as its medium-term downtrend line resistance at about S$0.48. With these bullish breakouts, I believe the outlook for this stock is very positive. Good entry level is at S$0.48-50.
Chart: Genting International's weekly chart as at Mar 31, 2009 (source: Yahoo Finance)
For you information, you can easily invest in this stock today as most stockbroking firms have set up a trading desk to assist clients who wish to buy overseas stocks. For example, Kenanga has recently launched its Global Trading Facility who enables the clients to buy shares in Singapore, Hong Kong, UK and US. For more on Kenanga's trading platform known as Kenwealth, go here.
(Note: This post is based strictly on technical analysis, without considering the company's financial performance or position).
2 comments:
Hi Alex,
First time visit your blog. Interesting.
May I know is now still a good time to invest in genting sp with price $1.10??
Hi alex, is it a good time to get genting sp since the price almost $ 1.20++? Pls comment..thx
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