GENTING (3182): Bullish

Pattern: Rounding Bottom In The Making

GENTING, one of the quality index stocks, is on its way to challenge its all-time high (11.1). Let's take a look at GENTING's daily chart below:

GENTING broke out from the downtrend line in early Jan 2017. It is currently forming a rounding bottom and on its way to challenge the neckline, which is marked in red (9.80).

From GENTING's weekly chart above, the immediate resistances after breaking the neckline are 10.20 & 11.00, as shown in the red box.

Based on the rounding bottom pattern's projection, the target prices (TP) are 9.80 (the neckline), 11.20 & 12.10.

Aggressive traders who are after leverage can opt for GENTING-WA or even the structured warrants if you are familiar.

I am with the bull as long as GENTING is above 8.80.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

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Cheers,

Ming Jong

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