Genting Singapore Stock Chart is Showing Reversal Pattern after the Parabolic Curve.

Why am I happy? Because I want to wait for the right entry to buy this highly speculative stock. I am not chasing current Genting Singapore share because the current price has already violated my rule:

1. Never chase the price
2. Buy Low Sell High. Current level is definitely NOT low….. I am quite surprised someone has the rule of “Buy High and Sell even Higher”. Good luck to them!
3. Genting Singapore’s chart is showing Parabolic Curve. I am not a high risk taker when I see this chart pattern.
4. When people is greedy, I should be fearful. When people is fearful, I should be greedy.

Ladies and Gentlemen, let the Roller Coaster show begins! ….

Let see whether history repeat itself and start a deep correction!

Genting has broken the resistance at $1.30, gap up and closed the last trading day with a bullish marubozu candle due to much better earning than expected. Probably many of you will ask how high can Genting Singapore goes and what is the next resistance. Base on Fibonacci Retracement, the next resistance is $1.51 (123.6% Fibonacci Retracement Level), followed by $1.64 (138.2% Fibonacci Retracement Level). That is the beauty of Fibonacci as it can predict the next future resistance or support levels where there is no previous history to refer to. However, be cautious on trading Genting as the chart shows Parabolic Curve again! It happens before and it will happen again! History tends to repeat itself!