Genting Singapore: Beware of Big Sell Down!

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Genting Singapore has been on a bullish trend for 3 months since end April. The rise in stock price has been very steep and it is very similar to the previous pattern (ie. very steep slope followed by a big sell down). In addition, Genting Singapore is very close the $1.30 resistance and present very limited upside opportunity. Will the history repeat itself and worth the gamble at this entry point? I think the shorties are gettign ready to short this stock. Let see…..

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China Fishery: Elliott Wave C now?

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China Fishery looks like starting an Elliott Wave C. If the Elliott Wave count is correct, very likely China Fishery will break this uptrend support line and may go down to $1.60 which is the 618% Fibonacci Retracement Level.

$1.90 is the critical support to watch as it is a 78.6% Fibonacci Retracement level + 50D MA support + Up Trend Support.

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Hyflux: Testing 78.6% Fibonacci Retracement Resistance

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Hyflux is currently testing 78.6% Fibonacci Retracement Resistance at about $3.20. Hyflux bounced off 50D MA support and break 20D MA resistance recently. If this 78.6% FR resistance is broke, the next immediate resistance is $3.25. Hyflux has to break $3.40 (the previous high) to start an uptrend (i.e. higher high, lower high uptrend pattern).

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