Genting Malaysia has rebounded from its low to test the immediate RM3.23 resistance level. With a rising RSI, a bullish bias may be present above this mark with target prices of RM3.32 and RM3.35. Meanwhile, it may continue moving sideways if it fails to cross the RM3.23 mark in the near term. In this case, the immediate support is anticipated at RM3.14, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM3.23

Target: RM3.32, RM3.35 (time frame: 3-6 weeks)

Exit: RM3.14

Source: AmInvest Research - 3 Dec 2019