Genting Bhd may soon move higher to test the resistance level of RM3.95. Since the momentum indicator RSI is pointing upwards, we foresee that there could be a technical breakout and move towards the short-term target prices of RM4.38 and RM4.88. In this case, the downside support is anticipated at RM3.45, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM3.95
Target: RM4.38, RM4.88 (time frame: 3-6 weeks)
Exit: RM3.45
Source: AmInvest Research - 3 Apr 2020
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