Genting S'pore has surged almost 15% in the past 3 days after breaking free of the $0.975 resistance. Our channel checks tell us that Macau is likely to beat market expectations and report another record high gross gaming revenues in May. Despite the recent outperformance of Macau ganing stocks, most earnings forecasts are still behind the curve, leaving room for upgrades when the casino operators release their 2Q results. This may have a positive spillover effect on Genting in the near term.
Immediate resistance and double top breakout target for Genting lies at $1.10
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