Need to watch KLCI also. It closed the gap made on 8 Dec this morning. Now index is at around the support zone. See vaccine news no use now (mostly priced in already and immune to further news). See KLCI better. Trade what you see, not what you read in news articles or what you think. Opinions are often wrong but the market is always right.

If 32% fibo retracement from 2.95 to 4.98 should be around that level. I scooped up some this morning. Got strong courage because made some money from this stock recently so im risking only my past trading profits to re-bet on this stock again on deep pullback. My trading capital is safe.

Posted by Sharefisher > Dec 22, 2020 10:22 AM
Superman also said yes now. Haha ha...

Buy on dip mah... today is the deep deep dip... Patience is the key in stock trading. Courage to strike at the right moment is also another important trait

Could be a good time to start reload some....

The mkt is very complex. Many large n small snakes n dragons. Difficult to manipulate a large cap index stock for an extended period of time. Warrant issuers constantly hedge their bets n manage their positions behind the scene, not just doing it on the final few days of expiry date. So they could still make $ even if expire above the exercise price

No lah. Dont scare people. W shape bottom is in n broke out of 3 yr downtrend line. Trust the macro chart.

Sell in news

Touch rm4.56.... fri's low become today's high?

This stock is immune to further vaccine news. Focus on the chart. This wave of goreng up has reached its price satisfaction near rm5 resistance zone. May need to wait a while for the next upwave. From this week's price action, there is higher chance it will drift down further on the immediate short term.

Newbie 2019, for this case i would put cutloss level at 3.95 as previous consolidation support zone was at rm4.0. Later the professional traders buy at 4.09 but you cutting loss at 4.09 :( charting skills can learn from books, youtube videos etc. Or get a professional trader as mentor. Charting skill alone is not enough. Money management rules n trading psychology are equally important factors for successful stocking trading.

Newbie2019, Genting's macro trend theme and longer term chart formation looks promising so the are strong forces backing your trades today. However, I feel your trade entry today the timing is off. Maybe too much analysts reports and bullish cheerleading affecting your judgment. Trade what you see on the chart, not what you hear. Learn to sharpen your trade entry skills (via drawing long and short term trend lines on the chart) and position sizing and you will be on the way to making bigger profits. Dont forget defence skills also which is Cutloss, Cutloss and Cutloss. Know when to hold them and when to fold them.

Today morning is the 5th green bar (after a long green bar on the 4th day). Not wise to jump in the morning opening. If sitting on losses for today's purchase, just have to tahan for the next upwave liow. Learn from the trading mistake and remember the lesson.

Today's price action dont look good. Could be some large prop traders locking in trading profits today. May see short term weakness for the rest of this week. I have drawn a short term consolidation trend channel, lower line is rm4.09 as of tomorrow. Most traded vol over past 2 days at rm4.44 so if price continue to trade below this level, thats not promising for short term.

Current price is at 3 years macro downtrend line zone. Touched and reverse down today (despite strong KLCI). Maybe need further consolidation and further good news for a successful real breakout. Too many type of buyers investors / traders because this is an index stock. Im not sure if "institutional buyers" include brokerage houses' large proprietary traders whose goreng buying and selling can move stock prices (can be from local / foreign brokerages) or those buy and hold type of traditional fund houses.

Depends on KLCI tomorrow. Being an index stock will tend to move in tandem with the index. KLCI is now above Feb 2020 pre-covid level

My sifu is Livermore. I trade stocks to win. JBond007 don't see people no up. You will be very surprised who is the big winner for this stock here.

In consolidation mode. Further vaccine news will not have much impact anymore (law of diminishing return). Chart wise, any break below rm4.00 will be very bad.

Next QR confirm worse. Let it drop more then buy... hopefully can get below rm4

After QR no power most likely drifting down to rm4 again.

Market don't like the QR...

Singapore RWS at standalone is making money and gunning for lucrative Yokohama casino license. At Genting bhd group level still losing money, USA operation is a real drag. Super heavy investment and low returns.

Q4 results will be worse than Q3 :(

If genting bhd's 3Q net profit is approx Rm10m, is this good news or bad news? Above or below market consensus?

Could be... usually the big syndicate trading this stock has advance info from insider management. Singapore side can give only rm85m of profit (55% subsidiary). London, usa etc casinos probably operating at a loss. Plantations and power supply stable business. Im not sure how Highlands casino will perform....

Anyone been to Genting Highlands casino from July to September? How is business up there? Singapore RWS made $54m because the government gave a huge $100b covid huge budget. Hospiality sectors like RWS enjoyed significant staff salary support, property tax rebates etc. May not be so for GENM's case.

Rm4 is just a psychological support level. Price volume support zones are about Rm3.80 zone and RM3.50 zone. 3 years major downtrend line resistance zone as of today is about Rm4.55.

Glove and mask supporters no need to come and kbkb here. Every dog will has his day. Genting up 50% in about a week recently. Some people here make a lot of money too.

From macro trend theme analysis, with the success of 3 vaccines (potentially 4 vaccines soon after JNJ announcement) the tide has changed to Genting's favour. If you have made good money punting glove and mask stocks, very good for you. But nothing is forever and permanent. With new players like Mah Sing and many other jumping into making gloves, increase in supply and reduce in demand (virus under control a year later). The market is forward looking, no need to dwell on past success or be a perma glove bull. Study the macro trend reality and follow the chart.

21st century lah... Is Mah Sing related to this chat topic?

Short term the chart doesnt look promising. Longer term, i can safely say that bottom is in for this stock with W shaped double bottom. Nice long consolidation on right side of the W bottom. No point cheering the stock, it will move whichever direction it wants. Vaccine news are mostly out by now with little impact to stock price (as evidenced by today's price action). The next big move will depend on Q results whether it beats market expectation or below expectation. Our aim is to trade what we see and profit from it. The bulls can make, bears can make, dont be the pigs that get slaughtered. :)