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As I was advising caution on Genting SP, some analysts are turning cautious on Genting SP as well, it seems.
Genting Singapore off 1.1%; Gaming demand slows: UOB. UOB KayHian, which has Hold call with $1.59 target, says its own checks show gaming activity at Resorts World Sentosa over July-August points to noticeably weaker 3Q10 vs 2Q10, with traffic in August affected by “hungry ghost” month.
Thursday, 02 September 2010
Thursday, 02 September 2010
© 2010 - The Edge Singapore
Genting Singapore down 2.2%; Overbought: DBS Vickers.
Thursday, 02 September 2010
Thursday, 02 September 2010
© 2010 - The Edge Singapore
Related post:
Genting SP: An amazing run.
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2 comments:
Genting is a very erratic counter but I'm not surprised that it moved up and ended up down today after yesterday's surge. I'll look to re-enter near the short-term MA or perhaps when the technical oscillators move off overbought territory.
Are you vested in Genting?
Hi Chu Yeow,
Nope, not vested in Genting SP. The uptrend is definitely very much intact. Immediate support is at $1.70.
I believe that strong support has moved up from $1.30 to $1.50 now, which is where we find the rising 20dMA as well. Of course, this needs confirmation.
Congratulations! :)
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