All in a day's work

Genting Intl, a counter which my dad used to ask me to consider getting because of the IR craze and the fact that it's a casino based industry. Precisely because of the same reasons, I did not bother to look at it. I was reminded of this counter again by, noob, someone who posted in my chatbox asking me to give his my noobish opinions. So here goes.



Dear noob,

If you were to enter this counter @ 0.80+, it's definitely not a good sign technically. If you were to look at the chart, the counter has yet to break it's 200MA, being the nearest resistance. Never mind about the gap down resistance.

The support of 0.615 has been created and has so far, in my opinion, sustained. Not a really bad sign but do note the Bollinger Band tightening. Expect Big movements soon. Perhaps another institutional buying as seen from history when prices were all pushed up in a single day with astonishing volume. Not a good sign.

In general, unless it recovers from the gap down, unless the bollinger band breaks upwards, unless the 200MA is broken, unless the dividend payout is fantastic, unless you own the company, otherwise, I personally would not encourage the purchase of this counter.

Technically, not very good. Fundamentally, it's not my type of business.

Anyway this is just my opinion. It's all up to you.

Perhaps I may be wrong.