Tuesday, 16 August 2011

Bill E's take : Genting may drift slowly towards 1.46 - my technical downswing target ...

DJ MARKET TALK: UOBKH Keeps Genting At Technical Sell; Eyes S$1.40 ..

0239 GMT [Dow Jones] STOCK CALL: UOB KayHian maintains its technical Sell call on Genting Singapore (G13.SG), with a revised technical target price of S$1.40. It notes its previous Sell target price on August 5 of S$1.62 was met on Thursday, and the stock is trading below its moving averages; "it may fall further as it is not able to break above S$1.78." The house notes RSI has lost its momentum and both MACD and its signal line are pointing down, "alternatively, investors may consider exiting their shorts if prices break above S$1.85." The house tips resistance at S$1.78 with support at S$1.40. UOB KayHian's institutional research has a fundamental Buy rating on Genting with a target price of S$2.21. Shares are up 1.2% at S$1.69. (matthew.allen@dowjones.com)

Bill E's take :  Genting may drift slowly towards 1.46 - my technical downswing target ...

1 comment:

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