Trade of the Day – Genting Singapore Ltd (SGX: G13) July 14, 2023 363

Trade of the Day

Genting Singapore Ltd (SGX: G13)

(Current Price: S$0.945) – TECHNICAL BUY

Buy stop price: S$0.955     Stop loss: S$0.925     Take profit: S$1.04



The price is currently consolidating in a descending wedge, with bullish momentum building on both the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) technical indicators, as they are displaying bullish divergence with higher lows forming.

The price could rebound and head towards the S$1.04 level should it breakout of the wedge, confluent with a horizontal resistance level formed in May this year as well as the downtrend resistance line.

Expected timeline of the trade is 4-8 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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