Friday, March 05, 2010

Genting SP broke below its medium-term uptrend line

I had posted on March 2 about Genting SP was dropping to its medium-term uptrend line at S$0.86-87. The stock tested the uptrend line on Mar 3, without any sign of rebounding. Yesterday (Mar 4), it broke below the uptrend line. Unless a quick recovery happens today (or, over the next 1-3 days), there is a good chance that the uptrend for Genting SP is over. The end of an uptrend in a stock will be followed by either a sideway movement or a downtrend.


Chart: Genting SP's daily chart as at March 1, 2010 (Source: Yahoo Finance)
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5 comments:

  1. HengFriday, March 05, 2010 11:17:00 AM

    This comment has been removed by the author.

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  2. HengFriday, March 05, 2010 11:19:00 AM

    hi Alex,
    Any Comment of Genting (3182) which yesterday closing at price of RM6.25?
    Since Genting Malaysia got plenty of CASH on hand but the Share price moving sideway, do you think it is a good share to hold for long-term?

    From
    a fans of Genting Group

    ReplyDelete
  3. Alex LuFriday, March 05, 2010 11:46:00 AM

    Hi Heng,

    I have commented so much on the Genting group that I am going to lay off this group for a while. For the record, my preference is for Genting Malaysia.

    ReplyDelete
  4. EricFriday, March 05, 2010 11:48:00 AM

    Hi Alex,
    If the Universal Studios Singapore theme park soft opening by next week, will this stock may rebound from its current level.

    Thanks

    ReplyDelete
  5. edge2002Friday, March 05, 2010 12:10:00 PM

    Eric
    i think only time can tell the question you ask :P

    ReplyDelete