Genting SP (technical)

Genting SP: Technical chart shows bearish descending triangle formation which portends further downside if and only if the support at $1.00 is broken. Prices have also lost its positive momentum in the short rally after establishing double bottom. MACD is now close to neutral. In the larger scheme of things, the downtrend is still intact, as the last high ($1.085 on 30 Jan 15) did not manage to break previous high ($1.090 on 30 Dec 15). Immediate support-resistance at $1.00-$1.090, second level resistance at $1.165