Chart 1: Genting SP's daily chart from Sept 1, 2008 to June 21, 2011 (source: Yahoo Finance)
Chart 2: Genting SP's weekly chart from Jan 2003 to June 21, 2011 (source: Yahoo Finance)
Based on the above, I believe Genting SP could be a trading BUY when it touches the S$1.70-1.75. However, it must be noted that a breakdown of the uptrend line would be bearish for this stock and as such, you should take the necessary precaution to safeguard yourself.
9 comments:
Bro,
What is your short term view on genting singapore?
Correct me if I am wrong. This share seem rebound from SGD 1.88; and facing some resistence level at SGD 1.93. TQ
Bro,
Any idea on Genting SP?
Likely it was a rebound from 1.8x. What is the resistence level and your opinion for this share?
Thank you
will genting sigapore rebound from 1.70 level?
Hi Ivan
This post was written about 1 month ago. The uptrend line support has npw moved higher to S$1.75-1.80. This means that Genting SP is testing its uptrend line right now. Can this support hold? We won't know but the normal technical rule is to accept that an uptrend line is good until it has been violated.
Thanks Alex for your reply.
Seating, waiting it rebound
Bro Alex,
Time to short sell Genting Singapore as it broke down to SGD 1.60 couple of days before ?
Thanks
Hi Ivan
It looks like Genting Singapore has broken its long-term uptrend line at S$1.70-1.80.
Thanks Alex.
Where will genting singapore next support and resistence level (1.70? ) ? TQ
Hi Ivan,
I think Genting sp has broken the uptrend line at S$1.75. It is hard to make a case based on technical reason to buy the stock. Can it come back up above the uptrend line? Who knows?
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