Saturday 2 November 2013

Genting Singapore 2013

I have a small amount invested in Genting. Currently wondering if it will be good to hold onto or sell and run. Looking at the graph below, I can only conclude one important thing. It has been very fiercely speculated in the past especially since the opening or Resort World Sentosa. One thing is for sure, they have been overbought in the past, they still remain overbought. Technical analysis proves nothing significant as there are no good supporting lines. Performing a Fibo retracement over the longest period available will show that the chart has bounced from the 50% retracement level. It would seem that $1.25 is a strong support price. However, the bottom has not been established for this great bull run. My exit price shall be $1.65 for two main reasons. Dont want to be too greedy and I believe it is in a short term down trend in search for a bottom. 


 

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