Genting SP saw strength today breaking out of its downtrend line with its Relative Strength indicator trading above zero, thus outperforming the market. FFI is also showing positive fund flow
Thus, there is expectations that Genting has exited its Mark Down phase.
1st Target: S$0.95
2nd Target: S$1.00
Stop: 10DSMA Trailing Stop
This is an analysis for a client.
Technical indicators showing room for further bullish momentum.
Please do your own due diligence.
This is for analysis purposes only.
Losses can happen so please understand your risks and investment objectives first.
This is an analysis for a client
Technical indicators show room for further bearish downside.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
ENTRY: 0.910
TP: 0.960
SL: 0.850
- ADX>25
- RSI>65
- RS and FFI +ve
- Weekly chart looks good on breakout with good volume if maintain above 0.900
- Breakout from resistance yesterday with good volume
- Watch for HVN at 0.940
Prices are facing bearish pressure from our resistance where we could see a p pullback to test our support level at 0.860. Overall trend is still bullish for me as long as prices holds above the ascending trend line though I do caution the limited upside as prices are near our graphical swing high resistance on the daily time frame.
Sign of Strength in the chart:
1. Change of trend with increasing volume
2. Gap up above accumulation
3. Breakout with Green Pentagon high volume
4. No Supply signal in weekly chart
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and...
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Looks like it is re-testing resistance level. If this is successful, we will potentially see a rise above.
Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Give a thumbs up if u like the analysis :)
Price is approaching our support target at 0.860 and a break below our ascending trend line and support level could see a bearish acceleration to our next support level at 0.820
Prices are testing resistance where we could see a pullback to test our support level. Overall trend remains bullish as long as prices hold above our support target at 0.860.
These are the key levels for me on Genting, overall direction is bullish for me but prices are currently testing a key resistance area where we could see a pullback here. Love to hear your thoughts on this!
![G13: Genting Sing [1-3 weeks view]](https://s3.tradingview.com/y/yYXrFaJY_mid.png "Genting Sing [1-3 weeks view]")
