Genting appears to be forming a Bearish Descending Triangle in an up trend. If this triangle is formed and the stock price breakdown from the triangle support, a trend reversal pattern is confirmed. In addition, Genting has just broken 20D and 50D MA support lines. RSI is heading south (31% now) and MACD shows bearish convergence. These are Sell signals.
Starhub stock price dropped about 5% after ex-Dividend date on Nov 24. The stock price broke 20D and 50D MA support and looked very bearish. MACD is also showing Bearish Convergence and further down trend is expected. Next critical support is $1.83 which is very close to 52 weeks historical low of $1.76.
Both charts look bearish and I am waiting for the stock price to hit bottom before buying for long term investment (for dividend collection).
GS appears close to complete the forming of right shoulder. The stock is unable to break the uptrend support turned resistance line & its 50D MA. If GS breaks the neckline, the stock may be sent down to $144.
Other Technical Indicators (MACD, Parabolic SAR, RSI, Stochastic, Bollinger Band) start to show bearish convergence.
