Genting HK: Could see renewed interests, after Chairman of SG Cruise Centre highlighted that Asia's cruise passenger throughput could swell to 6-7m annually as more cruise liners set their sights on Asia, backed by the growing affluence in Asia. UK-based consultancy Ocean Shipping Consultants projected cruise passenger throughput in Asia shld nearly double from 1.07m in 2005 to 2m by 2015….
Technically, CIMB has a Technical Buy Call on counter, noting that the stock appears to be forming a bullish flag pattern, with prices closing above both its 30-day and 50-day SMA on rising volume. MACD has confirmed its golden crossover and moving into positive territory again. Expect more follow through buying in the coming days. RSI is also rising steadily….
Recommend traders buy now, but keep a stop loss below the swing low of US$0.41, just in case. If prices drop below US$0.40, the flag support, then it would likely signal that prices are in for a deep correction.
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