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The entire contents of this blog are meant for pure reading pleasure. Nothing on this blog should ever be taken as advice to trade under any circumstances. By entering and reading this blog, you have agreed that I am not in anyway responsible for your trading outcomes.

I am NOT A PROFESSIONAL FINANCIAL ADVISER, and the analysis is just a market novice's opinion.

Sunday, March 28, 2010

Outlook for Genting

-MACd bearish.
-RSI turning down before overbought region, volume declined to a month's low.
-$1.02 is a strong resistance level in the event of a bullish uptrend. It is the 61.8% Fibo Retracement level, which corresponds to a support turned resistance line
-Lower highs and lower lows---strong indication of a BEARISH DOWNTREND.
-Rapid downtrend after breaking 200MA in mid February. Tested 200D MA but failed and experience another pullback.
-Price closed on friday with a common doji and low volume showing a lacklustre interest and indecision on the future direction of the stock.
-Support at 0.90 and resistance at resistance belt of 0.99 to 1.04.
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