Genting

Recently Genting has fallen out of favor among buyers & analysts, & its price seems to have found an intermediate support at 1.20, near its 23.6% fib extension. I’d take a short term bet on the “house” for this casino to range back up to its 38.2% fib extension, which coincides with its 50DMA & its falling resistance trend line. A longer term breakout is likely to occur if it moves & stays above 1.40. Lower support is 1.11 & the psychological 1.00.

A spin which may catalyze its price is if there are rumors/intentions to “REIT” the casino’s property Resorts World Singapore. Link to related news article. This has already made positive price effects on its sector peers.

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