Genting HK (Poised for further upside)

Posted on Nov 6, 2011 No Comments    Posted under: Home Post, SG MarketWatch

Genting HK (Poised for further upside)

Genting HK currently trades just above it’s 14 & 20day moving average lines. Both lines confluence to form an additional layer of support for this counter. Big brother Genting SP has rallied a fair bit over the past 2 weeks. However, Genting HK currently trades in consolidation with good support. Trading volume of this counter is observed to be healthy.

Further on the technical charts, Genting HK’s stocastics seems to be forming a potentially bullish crossover. Genting HK’s is currently trending in the positive region of MACD and trading on upper band of the bollinger band.

With good trading volume, Genting HK could be poised to trade higher to test it’s next level of resistence at 31 cents.

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