Genting Malaysia is touching the immediate resistance level with higher trading volume. The stock has been moving higher on the back of increasing trading volume, it looks ready to challenge the immediate resistance level at MYR2.80. If it crossed that resistance, we will expect it to move higher and test the next resistance level at MYR3.00, followed by MYR3.20. This positive expectation should remain valid, provided the MYR2.60 support is not breached.

Source: RHB Securities Research - 15 Dec 2020