Genting Singapore: Going for the 3rd Time!

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Genting Singapore has broken out from the Symmetrical Triangle and broke the $2.00 psychological support. Genting Singapore failed to break the 20D MA resistance twice. There was a Bullish Harami candlestick pattern observed on last Friday and Genting Singapore may rebound to test the 20D MA resistance (about $2.00) the 3rd time.  Failing to break above $2.00 resistance will continue the down trend and Genting Singapore will head towards the breakout price target of $1.60.

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Olam: What is the Direction?

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Olam has broken down from the 200D MA support and will start the bearish trend. Although Olam bounced back from the 38.2% Fibonacci Support at about $2.64, it is likely the upside potential is capped at $2.78 which is the 50% Fibonacci Retracement Level.  If you look closely on this Olam chart, the chart pattern support & resistance fit very nicely on the various Fibonacci Retracement Level (50%, 38.2%, 23.6%). Thus, the next immediate support are $2.64 and $2.468 accordingly.

Previous Analysis on Olam.

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