Genting HK (technical)

Genting HK: the counter has likely bottomed out from the $0.37 trough. Near term momentum looks positive, with the RSI and MACD indicators steadily rising, and having recently emerged above neutral levels. The huge volume spike today, mainly due to a 66.6m married share deal at $0.395 that took place at 11.07am , could prompt traders to watch the counter more closely. Although downside appears limited to $0.37 support, would prefer to wait for a close at $0.405 or higher (ie. above the 200day MA) , as a bullish breakout signal for the stock to head towards the medium term resistance at $0.44.