Genting SP: Flip flop.

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

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Genting Singapore down 2.2%; Overbought: DBS Vickers.
Thursday, 02 September 2010

© 2010 - The Edge Singapore

Related post:
Genting SP: An amazing run.

Genting SP: An amazing run.

Genting SP has amazed me with its continuing upward move in price. Many punters must have made good money here.  Congratulations!

Volume has expanded for three straight sessions as price pushed higher.  The volume, although higher, is not dramatically so and there is, therefore, a suggestion that price could be rising from a lack of sellers and not because of an abundance of buyers. The MFI has just joined the RSI in overbought territory and the risk of going long at this point in time is surely higher. OBV shows consistent accumulation and it seems that the party could continue for a bit more but when would it come to an end as all parties do? No one knows and I would advise caution.

Related post:
Genting SP: Twin spinning tops.

Genting Singapore rises to record on earnings outlook
Wednesday, 01 September 2010

© 2010 - The Edge Singapore