Tuesday, December 16, 2014

Can Genting Singapore go Lower?

Previously we posted 

Genting Singapore comparing with the other casino in the world, in 2013 where most of the casino is on a bull run, Genting Singapore is already on a sideway, in 2014 global casinos went into a downtrending bearish trend, almost all of them start falling at the same time in the beginning of 2014, and remain down for the whole year. The question now is whether Genting Sing still got room to drop?

We notice that recently alot of Casino stock start to make new low again, though Genting is still holding its level above the previous low, we see that if the weakness continue in the Casino sector globally, Genting Singapore will most likely to follow the same pattern. Making a new low. Our system show if price fall below 1.055, it may resume downtrend until next bullish signal appear.

Above: MGM resorts holding at the support
Above: Las Vegas Sands LVS made new low
Above: Galaxy Entertainment(HKEX) holding at support
Above: Wynn Resorts(WYNN) Made new low