Genting: Short Term Bullish Trade?

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Base on current daily chart, Genting SP looks like forming a Bullish Pennant and trading within an uptrend channel. 2/5 EMA are showing bullish signal on both daily and weekly chart. Currently Genting SP is just sitting on the 50D SMA and seems like a good support so far.

Looks like a good opportunity to have a very short trade (bullish trade) with price target of $1.46 (161.8% Fibonacci Retracement Level). Note: Genting Singapore is still on long term down trend where 200D SMA is still trending down.


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