Genting surged past the resistance level of RM6.96 in its latest session with a higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM7.33, followed by RM7.69. If it dips below RM6.96, it will continue to drift sideways and consolidates. Support level is anticipated at RM6.60 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon rebound above RM6.96

Target: RM7.33, RM7.69 (time frame: 3–6 weeks)

Exit: RM6.60

Source: AmInvest Research - 26 Apr 2019