It has been a decent week for Genting Singapore, for it has risen a whooping 10.9% within the last 2 trading days in the week from one of its lowest price in the month of April. I believe the reasons is expectations that Genting would be "profitable" as announced in the AGM, with its 1Q2010 results out on 13 May. Any experienced trader would know the term profitable is relative, and if actual numbers do not match expectations, it is going to be pull back Genting's share price. Up ahead, it will be interesting to watch if it could break the strong resistance at 1.04-1.05, and if that happens I believe could retest the 1.20 levels. Personally i think $1.00 is very likely, its just a matter of whether it could sustain at such a price level.
Ok enough said in this blog about Genting. Another interesting stock for the week is CapitalLand. It has fallen by 7.4% from 4.10 to close at 3.76. Such a fall in itself represents a good buying opportunity for the traders who based their strategy on buying on dips. The interesting sign is the doji formed on Friday, representing an equilibrium between the forces of demand and supply. This is a signal that its downtrend is possibly ending. The risk with this stock really comes from the government, whether it will implement further measures to cool the property market.
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