Genting Malaysia Bhd (GENM, 4715)

• Share closed 0.80% higher at RM2.53 last Friday.

• GENM has been retracing from its high of RM2.79 since May due to headwinds amid prevailing political environment. It has rebounded modestly from the support level of RM2.50 over the past two weeks. We noticed some accumulation last Friday, and the stock is poised for a MACD crossover. As indicators are showing uptick momentum, the share price is expected to move higher.

• Resistance levels are identified at RM2.56 (R1) and RM2.62 (R2).

• On the flipside, support levels are pegged at RM2.50 (S1) and RM2.40 (S2).

Source: Rakuten Research - 12 Jun 2023

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Source: Rakuten Research - 12 Jun 2023

To sign up for an account : http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity:http://bit.ly/3I5Jzxo