Friday, June 22, 2012

Genting SP (technical)

Genting SP: UOBK technicals says the stock price remains on a downtrend as investors digest Genting Group's recent acquisition of a stake in Echo . But adds, the stock is appearing to buck the trend by finding a bottom, even though it is still trending below its short-term moving average. A break below its Oct. 4 low of $1.42 could lead the stock to test support at $1.30. Tips initial resistance at $1.48, followed by $1.56. The stock is up 0.7% at $1.43.

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