Genting SP: Black candle.

Has Genting SP's sky rocketing price run out of fuel at last? The price action is still above the upper Bollinger band and there is much room to fall in case of a pull back to the 20dMA, currently at $1.30. This is also a candlestick resistance level which took many sessions to be overcome.  This price is therefore psychologically stronger in the minds of market participants and should be a strong support.

Overall, momentum is still positive.  The higher low on the MFI suggests that demand is still intact.  This is despite some distribution taking place as suggested by the OBV turning down.

However, the price has moved up too quickly as suggested by the RSI which is in the overbought territory and this is being corrected.  All signs currently suggest that Genting SP's share price might just be taking a breather.

Healthway Medical: 17c support.

Some large transactions sold down shares of Healthway Medical at 17c today.  Volume, although higher, is not very much so.  Would the selling pressure continue? Where is the next support?

The MACD is plunging into negative territory, widening its distance from the signal line as it does so.  The momentum has clearly turned negative. With the lower highs we see in the MFI, it is obvious that demand is weakening.  OBV which has been sloping downwards gently took a bigger dip today, suggesting consistent distribution which accelerated today.

For sure, there is a chance price could decline further.  If it happens, the next support is at 16c, a many times tested support level in April. Given Healthway Medical's fundamentals, I feel that it is expensive even at 16c but we might see momentum oscillators entering oversold territories by then and that could bring about a brief rebound. I would pay attention to the volume as price declines.

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Healthway Medical: Second quarter results.