Genting SP

Genting SP: See support at $1.34. Technicals show that counter may have form a double bottom and may be rebounding. Most indicators are positive with both RSI and Stochastics pointing higher, ADX is also coming off reflecting a waning downtrend.MACD also appears to have reversed its initial decline. See resistance at $1.24. Note that prices for Genting were also at a 2 yr low 2 days ago. So far no news heard on Genting per se. The news on Crown and Echo does not appear to be material although it could be the cause of some interest in Genting. Genting holds a 4.0% stake in Echo with Genting HK holding an additional 4.2% stake.