Sign of Strength in the chart:
1. High volume with change of trend
2. Reaaccumulation stage
3. Shakeout completed
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
GENTING spotted in bearish bat harmonic pattern inside a bullish flag formation. Potential swing trade can be taken from fibo886 to fibo886 extension as per the proposed trade plan. The CL is below a monthly pivot (not shown).
Genting, one of the recovery theme counter. Monitor for head & shoulder setup.
Either you buy on breakout, or allocate a portion of fund for better R:R entry: near 4.75-4.9 (with stoploss of 4.74).
MYX:GENTING
GENTING
Theme: Recovery
Rst: 5.70
Spp: 5.05
Trying to form new support at Fibo Ext 100%, at current stage, the tendency to continue straight upside is low. The stock likely to swing around MA50 trendline first before unlocking further upside.
As the funds being rotated out from the technology sector MYX:TECHNOLOGY , recovery theme stocks in Malaysia has outperformed the market. In fact, it is possible that the recovery theme rally has entered into Wyckoff phase E, which is the marking up phase where the momentum move begins.
In this video, you will find out the top 3 Malaysia stocks MYX:AIRASIA , ...
Elliott Wave Theory suggests that:
Genting has probably completed its Major Correction (A-B-C) since its inception back in 2003 & is currently primed for a Wave 3 bullish impulse
Business Overview: Genting Berhad is principally an investment holding and management company. The Group is involved in leisure and hospitality, oil palm plantations, power generation, oil and gas, property development, life sciences and biotechnology activities, with operations spanning across the globe, including in Malaysia (the Group’s country of origin),...
Overall trend for weekly and monthly still in the bearish mode as we know hospitality and tourism industry still imbattling with COVID-19 . However as an intraday trader you can catch an opportunity on the bulling engulfing at daily timeframe for the entry point . Let’s see how the market plays , trade at your own risk
Overall trend on weekly and monthly is still bearish as we know tourism and hospitality industry currently still battling with COVID-19 . But you can catch an opportunity for intraday trader on the bullish engulfing formation at daily timeframe and possible double top formation . Let’s see how the market plays , trade at your own risk -Zaim
Downtrending and now coming to cliff. Support line 3.64 and follow by 2.88.
Short term rebound play only if you dare to grab the falling sword.
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Disclaimer: I am not Investment guru. Every stock analysis are purely for my personal learning and practice purpose.
It is not for any...
