Genting Malaysia Bhd (4715)

• GENM gained 8 sen or 2.7% to RM3.07 last Friday.

• Last Friday’s long white candle saw it breaking above the key RM3.00 level staging a breakout from its the recent consolidation on renewed buying interest. With the positive upticks in the key momentum indicator RSI, we expect the share price to rebound higher to RM3.30 level.

• As such, resistance levels are seen at RM3.27 (R1) and further to RM3.46 (R2).

• On the flip side, strong support level is identified at RM3.00 and breaking below could see next support at RM2.78 (S1).

Source: Rakuten Research - 7 Oct 2019