Tuesday, November 22, 2016

Genting Sing: Some profit taking seen near 1.00, but may still be good to go, price 0.985, bullish signal 2 weeks back fyi

From yesterday’s call where we spotted it at 0.955.... (See email to clients below)

We have indeed seen it trade to a high of 0.99 before some profit taking.....

Support would now be at 0.95 for now and we can still see more upside if this holds, likely to consolidate from 0.95 to 1.00 for now before we see more directions.

Any clearing above 1.00 can see the upside continue to 1.05 and we can start to see a reversal in progress in the mid to long term too.

Congrats to those who managed to lock in some profits yesterday.... We may ride more if price action allows again....

Just to share that we actually had a 1ET BULLISH ENTRY SIGNAL about 2 weeks back, Entry price at 0.86.... PTI graduates can check......

Is there an EXIT for that signal yet? Secret!


Recent Email:

Sent: Monday, November 21, 2016 9:20 AM
Subject: ********** Genting Sing: A breakout seen, may test 1.00 next, price 0.955
After trading below the key 0.900 resistance level for more than a year, finally we have seen some actions last week with it staging a clear move above. We are seeing it pull away from the new support at 0.900 now with it likely to test 1.00 next. Short term uptrend intact with it holding above 0.95 now with momentum indicator also showing strength. Would be good to lock in some profits near 1.00 where we can see some selling again.

For illustration purpose only

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