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Genting SP: Doji.

Wednesday, July 28, 2010

Genting SP formed a doji today, a sign of indecision. Volume shrank today which is a sign that most people are staying sidelined. This stalemate is confirmed by the OBV which has gone flat. The MFI which has been rising and bordered on overbought has declined slightly.

Genting SP might just be taking a breather although with MFI almost overbought and RSI high in overbought territory, one wonders if it is ripe for a correction. Any pull back should see initial support at $1.20, a many times tested resistance level before and should be a strong support.  This, incidentally, is also where we would find the rising 20dMA in the next session.


Anonymous said...

Hey AK71,

any updates on your high yield/passive income portfolio? Am looking at some passive income, looking at SPH, Saizen or Lippo for defensive, and Golden Agri for growth.

I realised that Saizen has not gave dividends in the past Q. Golden Agri has started the move up. Any thoughts?

AK71 said...

Hi Anonymous,

My top three investments are now Saizen REIT, AIMS AMP Capital Industrial REIT and LMIR. SPH is still my favourite high yield blue chip.

Saizen REIT is resuming cash distribution in September. I continue to believe that this is an undervalued counter. I did some calculations before with regards to its potential cash distribution:

AIMS' DPU has stabilised and I expect 2.15c per annum to be sustainable. LMIR's DPU should also be stable at about 4.8c per annum.

As for Golden Agriculture, I look at it more as a cyclical play. Healthway Medical was what I identified as a growth stock.

With Golden Agriculture, it is highly leveraged to the price of CPO. So, keep an eye on CPO which recently broke through its downtrend resistance. Fundamentally, its current price is fair. Technically, any weakness could see it going lower with immediate support at the 55c level.

With Healthway Medical, it has to show that it is able to execute its plans to expand in China successfully. Its first quarter results were rather weak.

Could you leave your name or initials in your future comments? Thanks.

Chu Yeow said...

Genting's going to get a boost from Las Vegas Sand's positive earnings contribution from MBS: The EBITDA from MBS is quite high vs its Macau properties considering it's only open for 65 days in the quarter, so it bodes well since most people expect RWS to be performing better than MBS.

I guess we'll find out when Genting releases its quarterly results!

AK71 said...

Hi Chu Yeow,

It certainly looks like Genting SP is going higher! Congratulations! :-)

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