Friday, May 15, 2015

Genting SP: Could the price action over past few days indicate an eventual breakdown ?

Genting has broken the 1.00 critical support today as mentioned last week to clients. Could the price action have shown it? Congrats to those who have already prepared CFD SELL calls before today.  ;) now at 0.95

Sent: Tuesday, May 05, 2015 11:56 AM
Subject: ********************** Genting SP: back to support at 1.00, CFD SELL ON breakdown... price 1.005
After breaking above 1.00 about a month ago and heading higher to 1.06, Genting is now back to the critical psychological support at 1.00. At current levels, it has just crossed below the 20 day MA line so caution needed. More confirmation needed of the clearing of 0.995 – 1.00 buyers which can see it retraced back down to 0.900 which was the support formed in March. MACD indicator looks like a crossover to the downside with both stochastic and RSI indicator also pointing lower. Let’s see if 1.00 holds, if not CFD SELL positions can be triggered to ride the downside to 0.900 on a convincing support breakdown.

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