Genting Malaysia has been moving sideways during the last few sessions, with an immediate resistance level of RM3.26. With an RSI above 50%, it may break the resistance level and move towards short-term target prices of RM3.43 and RM3.60. Meanwhile, it may lose its bullish momentum if it fails to break RM3.26. Support is anticipated at RM3.10, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM3.26

Target: RM3.43, RM3.60 (time frame: 3-6 weeks)

Exit: RM3.10

Source: AmInvest Research - 17 Jun 2019