Friday, May 11, 2012

Genting SP - 1Q12 Net Profit Down 33%

Overall revenue for first quarter of 2012 was affected by lower win percentage and business volume in the premium player business when compared to first quarter of 2011. Consequently, the Group's net profit for the first quarter of 2012 was S$211.5 million as affected by the revenue mentioned above.

Genting Sp closed 1.67 today before the announcement of the Q1 result, the ART system show us a sell signal today. Will trigger sell if tomorrow drop 1 bid below today's low which is 1.66. Though there is support at 1.635, but I am not sure whether it will hold the stock. If tomorrow it gap below 1.635, it show more WEAKness