Friday, March 05, 2010

Genting has broken above its downtrend line

Genting has broken above its short-term downtrend line at RM6.40 this afternoon. From Chart 1, you can see that the indicators (MACD, RSI & DMI) have been turning around for the past few days, awaiting a turnaround in the price.


Chart 1: Genting's daily chart as at Mar 5, 2010_3.50pm (Source: Quickcharts)

Below, I have appended the 60-min chart to show the same turnaround in Genting.


Chart 2: Genting's 60-min intra-day chart as at Mar 5, 2010_3.45pm (Source: Quickcharts)

If Genting (presently trading at RM6.54) is too pricey for your limited funds, you may consider Genting-CM or Genting-CN. Genting-CM has an exercise price of RM4.45; exercise ratio of 10-to-1; and expiring in June 2010. Genting-CN has an exercise price of RM3.80; exercise ratio of 4-to-1; and expiring in July 2010. Genting-CM (at RM0.215 now) is now trading at a premium of less than 1%, while Genting-CN (at RM0.685 now) is now trading at a zero premium. The other CWs are trading at premium of between 9% & 33%.
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5 comments:

  1. LaymanFriday, March 05, 2010 4:42:00 PM

    Dear Alex,

    How far can Genting go? Is it worth for long term retirement investment? Thanks a lot.

    ReplyDelete
  2. Alex LuFriday, March 05, 2010 5:47:00 PM

    Hi Layman,

    I can't see so far in the future. I can only see that this stock has resistance at RM6.70-80, thereafter at RM7.00 & RM7.50. Please treat this as a trading BUY and do take protective stop.

    ReplyDelete
  3. kitFriday, March 05, 2010 6:14:00 PM

    Dear Alex,

    Today must be a tiring day for you! We appreaciate for all your advise and analysis, you have share so far..

    Wanted to thank you for all your kindness and effort for helping us..=) All the Best To You 2!

    ReplyDelete
  4. LaymanMonday, March 08, 2010 9:44:00 AM

    Dear Alex,

    Thank you a lot for your view and info. Have a good day.

    ReplyDelete
  5. IvanWednesday, April 28, 2010 5:39:00 PM

    Dear Alex,

    Where you learn all this TA from? seem quite GOOD!. . .take a long period?

    basically how you detect some potential uptrend stock? any system u try use to help? tq

    ReplyDelete