Genting Singapore has broken the neckline of a Head and Shoulders chart pattern and on the way to minimum price target of about $1.80. Genting may rebound at the current support of $1.87 before continue it down trend path to close to 61.8% Fibonacci Support Level.
Genting Singapore has been trading below the $2.00 psychological resistance for the last few days. In addition, Genting SP is trading below the 200D MA for the 1st time after 1 year. The stock is currently testing the 200D MA resistance. Failing to break above the $2.00 and 200D MA resistance may trigger a down trend for Genting Singapore. Also take note that 20D MA has crossed down 50D MA and will be crossing down the 200D MA soon. Shortieย will love this chart pattern!ย ๐ Feel free to share your view here!
Genting Singapore is currently testingย a Tough Resistance at $2.03. This is the mid term down trend resistance, 50D MA resistance and 78.6% Fibonacci Resistance.ย Today Genting SP ended the trading day with a Doji, an indication of the end of the recent mini bull run. A potential reversal of trend at sight!
