Genting update

Genting has gained 20% & broken the 1.40 resistance since I first mentioned about this stock’s potential. The seasonal Santa rally was slightly delayed for US stock market, but turned up in droves for this & the STI. It is peeking above its 200DMA & overbought on the daily RSI. Now about 1.38 has become short term support & 1.48 is next resistance, followed by 1.50.

I would wait for a pullback short term back to its 10 or 20DMA before considering long, if one didn’t get in on the seasonal rally trade earlier on due to the following: regarding the US fiscal compromise, basically they have agreed on marginal tax increases & nothing else been done. Here are comments by Greg Mankiw. Upcoming soon will be the US debt ceiling & delayed sequester fight, so watch what S&P, Moodys & Fitch may have to say about this. A reminder of what happened in 2011.



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