Chart 1: LVS's daily chart as at March 26, 2012 (Source: Stockcharts)
If you look at the chart of Genting, you will see that this stock has also traded in a mild downtrend line since January 2011. Yesterday, Genting nearly tested its downtrend line at RM11.20. If Genting can break above this downtrend line, it may continue its prior uptrend in the same manner as LVS. As such, we should keep a close tab on Genting.
Chart 2: Genting's daily chart as at March 27, 2012_10.00am (Source: Quickcharts)
1 comment:
Hi Alex
Since your last comment on P.I.E, it have manage to break its immediate resistance at RM4.60, staying now at RM4.84. As you mention, P.I.E next resistance level is at RM 5.00. The question remain whether P.I.E could surpass RM 5.00 !?
I've come across P.I.E managing director latest interview with one of the business article 《資匯》, Accordingly, P.I.E is on expansion mode, and is confident to achieve higher revenue with target to surpass RM 400m this year as it have gradually increasing its capacity production on its newly acquire two factories.
Based on above statement, P.I.E which have been long time perceive as conservative and prudent company have restart its growth path.
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