Tag: Genting Sing

Genting Sing Stock Code G13.SGX

Outlook

Price is trying to break above the cloud at the moment. A break above the cloud could hint at a price move to $0.835. If a possible bullish Engulfing candlestick pattern is confirmed at today’s closing, it will add further evidence to the bullish trend. Lagging Span is below price of 26 days ago but is above the cloud at the moment.  MACD could be about to have a bullish crossover, hinting at a bullish price trend. If price is able to stay above the cloud, it could be heading towards the next resistance at $0.835.

Strategy                  

$0.785                Buy

$0.835                Price Target

$0.755                Risk Management Stop

3 weeks              Trade Duration

Genting Stock Code G13.SGX

Outlook

Price reached a high of $0.825 on 12 August and went into a price correction. The price correction was supported by the cloud and managed to stay within the cloud, keeping the uptrend intact. In the past two trading days, price was also trying to break above the cloud, hinting at a resumption of the bullish price trend. Lagging Span is below price of 26 days ago but is above the cloud. MACD is bullish after a bullish crossover. We think price is likely to move higher to the previous high at $0.825 in the next 2-3 weeks.

Strategy                  

$0.780                Buy

$0.825                Price Target

$0.755                Risk Management Stop

3 weeks              Trade Duration

Genting Sing Stock Code G13.SGX

Outlook

After reaching a high at $0.825, price went into a corrective decline as price was still above the cloud. The decline has reached the Fibonacci 38% of the rally and the uptrend could resume again after being supported at the previous price low. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains bullish with both its lines above the zero line. We think price is likely to move higher to the previous price high at $0.825 again in the next 2-3 weeks.

Strategy                  

$0.785                Buy

$0.825                Price Target

$0.755                Risk Management Stop

3 weeks              Trade Duration