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Will The Bulls Continue To Take Charge In 2010? (version 2)
 
Malaysia

Genting
 

The current price action of Genting suggests a possible upside revival as the stock managed to surge above its 20 and 50-day moving averages. The MACD trend indicator continues to trend upwards above its centerline and the Stochastic oscillator just had a bullish crossover signal. Thus all these positive developments suggest that the bulls are in control and upside momentum is building up. On the upside, be on the lookout for its immediate resistance at RM7.87 and a break above it may see a possible further rally towards the next stronger resistance at RM8.25. Immediate support will be at RM7.45 and a violation below it may negate the bullish tone to see a slide towards the next stronger support at RM7.28.

 
 
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