Genting Singapore is currently forming A Symmetrial Triangle. Price target is $1.60 (close to 200D MA support) if Genting Singapore breaks down from this triangle. Current $2.00 is a support to watch!
Genting Singapore is currently forming A Symmetrial Triangle. Price target is $1.60 (close to 200D MA support) if Genting Singapore breaks down from this triangle. Current $2.00 is a support to watch!
Genting SP is in an long term uptrend according to the chart. If it retraces back to 78.6% ($2.027), do you think it is a good time to buy or wait further between 50% – 61.8%?
Personally I don’t think Genting Singapore is on long term uptrend. Current valuation does not support the price to keep going up. Rolling PE for Genting Singapore now is 300! For me, I don’t think I am buying at low at the current price. Current price violates my “Buy Low Sell High” long terms investing rule. I will only wait till the retracement back to 50%-61.8% for “trading” opportunity.
I guess alot will depend on Genting’s report. MBS quarter result is pretty good so far, hopefully so is Genting’s.