Genting PLC


Long setup based on ascending triangle, higher highs and lower lows. The volume transacted is tapering off, and i view it positively because this shows that the stock holders are not selling. The volume for Genting has a tendency to decrease before a powerful upward movement. You guys can try verifying it on the charts. This setup is ideal. Target 1.30, stop loss 1.17. Long above 1.23.

July Market

I have not been updating for quite a while due to work commitments. It has been a rough 2 months for the market, with the Euro crisis unfolding and uncertainty shrouding the investment arena. I believe the crisis has barely concluded the first chapter, as markets continue to break key supports within the last 2 weeks. In the next 3 mths, market is likely to be volatile. Tracking the SIMSCI, currently it is supported at the 50% retracement level. As long as 336.65 holds, there could be a bear rally up to the region of 343. I expect this to be short lived as the general climate is extremely cautious. Should the Euro sell off, another round of selling will be triggered.

On the short term though, Noble is showing signs of short term support. A close above 1.72 is a long signal, cut loss below 1.66.

I have updated the Asia Stock Charts page with crude oil futures and the USD/SGD. I am also using to track live DJI. These sources are free of charge and possibly as close to the live data one can get without opening a futures account.