Following up from previous SELL call made on 17th Apr 2013 (Scroll down) when Genting SP was 1.415. Genting has since broken the critical psychological support at 1.40. More downside seems likely if it does not hold above this level today. Support would now turn resistance at 1.40. Downside to 1.35 possible on weak market. As long as 1.40 remains as resistance level, we are bearish. A break below 1.35 can see it go to 1.30. Low set in December last year was around the 1.25 level.
Put a Buy stop at 1.41 nevertheless. Stop loss is compulsory for all short trades.
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