Genting HK has been trading in the range of 0.38 to 0.46 for about 4 months since June 2013 and finally today we have seen some interest on top volume attempting a breakout. If it manages to stay above 0.45 to 0.46 support level in the coming days, more upside can be possible in the short term to 0.500 then 0.52. Recent high in May was 0.52 before it came all the way down to 0.38 in September fyi. RSI indicator has been slowing rising since 2 days ago but it still not in over bought position, so more upside momentum can still continue if 0.46 resistance turned support holds.
Stop loss at 0.44 for short term trades.
UOBKH – 20 September 2013
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