Tuesday, November 8, 2011

Genting Sp

Genting SP now trading at 1.735, currently trading above 20ma and 40ma Short term is still in Bullish trend. However this stock is still below 200ma, and 200ma Sloping downward, signifying long term trend is down. If you have drawn the downtrend line since late last year, you will see Genting is traveling down the Downtrend Parallel Channel and now is at the top(resistance) of the channel. If you are follow our Parallel channel trading strategy, this is a good point to do shorting. Stoploss can be place at 1.81 . First target 1.50. 2weeks-1month trade.