Genting Malaysia surged past the resistance price of RM3.34 in its latest session with higher trading volume. With the momentum indicator RSI above 70%, the short-term momentum could reach a target price of RM3.52, followed by RM3.62. If it dips below RM3.34, it will continue to move sideways and consolidate. Support price is anticipated at RM3.24 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM3.34

Target: RM3.52, RM3.62 (time frame: 3-6 weeks)

Exit: RM3.24

Source: AmInvest Research - 16 Jul 2019