Thursday, August 13, 2015

Genting Sing: is there a BREAKDOWN today again?

Seems like the 0.800 did not hold as predicted yesterday….. Let’s watch !! Now at 0.785 !!

Sent: Wednesday, August 12, 2015 12:14 PM
Subject: ******** Genting Sing: Consolidating sideways, still a negative below 0.85, price 0.82
Genting has still been trading between the range of 0.80 to 0.85 for the past 1 week. The resistance at 0.85 seems to be holding really well and price still below it unable to break above. Any breakdown below the 0.800 psychological support level ca open the way to 0.74 then 0.70 with downtrend still intact for the mid to long term with moving averages still pointing lower.


Sent: Wednesday, 5 August, 2015 10:07 AM
Subject: ********* Genting Sing: Broke the 0.85 support level on top5 volume, price 0.845
Genting Sing has actually broke the 0.85 support level today, that it has rebounded from last month. There can be more weakness if it were to stay and close below this level in the coming days which will now become resistance. Longer term moving average pointing lower with it still trading below the downward sloping channel resistance line. Range will be from 0.80 to 0.85 now. Only the upside breakout back above 0.85- 0.86 will invalidate our bearish scenario. Put in watch list for possible retracement back to 0.800 psychological support.

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