Genting Malaysia Bhd (GENM, 4715)

• Following the uplift of inter-state travelling restriction, GENM closed 0.64% higher at RM3.15 yesterday.

• GENM has recently broken out from the neckline of its double bottom pattern. The resistance of RM3.11 hence turned into its support level.

• It is also trading above all its key moving averages. Backed by upticks in its indicators, the share price is poised to move higher.

• Resistance levels are identified at RM3.18 (R1) and RM3.31 (R2).

• On the flipside, support levels are pegged at RM3.11 (S1) and RM2.97 (S2).

Source: Rakuten Research - 12 Oct 2021