Wednesday 28 March 2012

Singapore Stock Tip: Genting Strategy after gap up (By Lucia Chen)

Hi Friends,

Some friends are asking for the technical view for Genting Singapore as it gap up on Friday and closed at 1.74, please see below picture, we can see that Genting is currently close to his box top (around $1.8) which is also identified as the “Sell Zone”, in order to reach to the next level, we need:
1)      To break above $1.80 it will depend  on this few days price movement which is very significant

2)      For this few days as long as it can sustain above $1.70 support level and does not break below this level then the chance is high for it to break above $1.80

3)      $1.9 is the minor resistance, and $2.0 is what we call Psychological Resistance, which is also the resistance before which we would like to take note/ take profit before any further direction confirmation.

4)      If this few days the price not able to sustain above $1.70 and it does break below this level then next support will be $1.60.

ART Team Lucia Chen 

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