Monday, August 5, 2013

Genting SP (technical)

Genting SP: The counter's bounce off the 200day MA ceiling on 25 Jul bodes negatively for near and medium term price action, even as the 50 day MA continues to trend down. Expect the $1.425 level to continue to provide stiff resistance . The MACD has just initiated a negative crossover, which could point to further share price weakness to the $1.30 level, and $1.20 in extension.

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