Technical Pulse: Genting Sing Ltd February 16, 2017 18

Genting Sing Ltd – Daily timeframe (Update from 10 January 17)

Current Sentiment: Bullish

Support 1: 0.930                   Resistance 1: 1.040

Support 2: 0.905                   Resistance 2: 1.060

Price turned back into an uptrend accordingly after the last update as the 20 day moving average supported the uptrend.

There was a short period of consolidation thereafter as price approached the 0.990 resistance area.

Nonetheless, the bullish momentum appears to be going strong as price broke above the 10 days range significantly with increasing volume on 15/02/17.

Expect the uptrend to remain in play for price to test the 1.040 resistance area followed by 1.060.

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About the author

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Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd

Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.

He is also a regular columnist on The Business Times - every Monday ChartPoint column.

He graduated with a Bachelor of Science in Banking and Finance from University of London.

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