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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.

Wednesday, April 7, 2010

Further Outlook for Genting

Technically speaking,
-Bollinger band is narrowing, indicating a possible price movement at either side of the bollinger band.
-MACd turned bullish from a rebound.
-RSI turning up---bullish
-Most importantly, today's trade at $0.895-0.92 has initiated a breakout from its downtrend channel, and that is possibly the most bullish chart pattern. We will are likely to see Genting retest the $0.975 level in the next few trading sessions.

Other news to watch out for is the possibility of another fund raising exercise by the company. It is unsure in what form it would take place, if the resolution is successfully passed at the next AGM. In the event that it is another rights issue, then it could have a negative influence on the price through share dilution.
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