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Stock Analysis with ChartNexus
 
Malaysia

Genting
 

The uptrend for Genting is still intact as recent price action bounced off nicely from its 50-day moving average. Dips should be contained by its immediate classical support at RM5.90 which also coincides close to its 50-day moving average. The MFI oscillator remains above 50% and it is trending up towards the 80% overbought level which suggests that momentum is picking up and there is further upside potential for Genting. A break above its immediate resistance at RM6.82 shall set up an assault on its next classical resistance at RM7.50. The next stronger classical support will be at RM5.22. However a violation below it will jeopardise the bulls to see a correction towards the key support at RM4.63 which coincides close to its 200-day moving average. 

 
 
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