Genting Malaysia has been sold down during the last few sessions. As the RSI dipped below 20%, it has become oversold. As a hammer pattern formed in the latest session, it may rebound in the coming session if it breaks above the resistance price of RM3.22. If this happens, the short-term target price will be RM3.40. Support is anticipated at RM3.12, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on rebound above RM3.22

Target: RM3.40, RM3.50 (time frame: 3-6 weeks)

Exit: RM3.12

Source: AmInvest Research - 10 Apr 2019