From the chart, a mini double bottoms has been formed and Genting may be forming a mini double tops too. The chart looks interesting for me to keep in the short term trade watch list. Feel free to comment if you see other patterns.
Tuesday, May 11, 2010
Genting Singapore - Trading Within a Range
Genting Singapore looks like trading within a range from $0.86 (50% Fibonacci Retracement Level)to $0.969 (61.8% Fibonacci Retracement Level). It looks like a good pattern to trade if Genting continues to move within this range until the breakout.
From the chart, a mini double bottoms has been formed and Genting may be forming a mini double tops too. The chart looks interesting for me to keep in the short term trade watch list. Feel free to comment if you see other patterns.
From the chart, a mini double bottoms has been formed and Genting may be forming a mini double tops too. The chart looks interesting for me to keep in the short term trade watch list. Feel free to comment if you see other patterns.
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Breakout from a Mini Double Bottom today with price target of $1.06. Also reaching 200D MA resistance.
ReplyDeleteLooks like genting is having a trend reversal with good volume, breaking 200d MA and the 20day and 50day MA as support lines..What do u think about 0.94 as an entry with price target 1.10?
ReplyDeleteYes. Trend reversal after breaking out from the mini double bottom but have not broken the 200D MA yet. Genting may come back to test the 20D & 50D MA at about $0.93. If these two MA support hold well, $0.94 should be a good entry point. As for the exit targe of $1.10, I think we need to see whether the 200D MA resistance can be broken first.
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