KLSE : GENTING (3182)High momentum signal spotted. Looking good with increasing volume and momentum.
GENTING trade ideas
3 Reasons Why Genting is on an uptrend movementSign of Strength in the chart:
1. High volume with change of trend
2. Reaaccumulation stage
3. Shakeout completed
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
GENTING IN HARMONIC PATTERNGENTING spotted in bearish bat harmonic pattern inside a bullish flag formation. Potential swing trade can be taken from fibo886 to fibo886 extension as per the proposed trade plan. The CL is below a monthly pivot (not shown).
Long term bullish on economy recoveryGENTING to test on 5.54 after rebounding on the bottom parallel channel and breakthrough 5.21 resitance.
RSI has to rebound on 50.
GENTING - Healthy ConsolidationGENTING
Theme: Recovery
Rst: 5.50
Spp: 5.05
Healthy consolidation above Fibo Ext 100%, Bollinger Band slowly widening as well, will observe the completion of RB formation soon.
Genting, recovery theme and trade setupGenting, one of the recovery theme counter. Monitor for head & shoulder setup.
Either you buy on breakout, or allocate a portion of fund for better R:R entry: near 4.75-4.9 (with stoploss of 4.74).
MYX:GENTING
GENTING - Building New GroundGENTING
Theme: Recovery
Rst: 5.70
Spp: 5.05
Trying to form new support at Fibo Ext 100%, at current stage, the tendency to continue straight upside is low. The stock likely to swing around MA50 trendline first before unlocking further upside.
3 Malaysia Stocks to Ride the Recovery ThemeAs the funds being rotated out from the technology sector MYX:TECHNOLOGY , recovery theme stocks in Malaysia has outperformed the market. In fact, it is possible that the recovery theme rally has entered into Wyckoff phase E, which is the marking up phase where the momentum move begins.
In this video, you will find out the top 3 Malaysia stocks MYX:AIRASIA , MYX:GENM and MYX:GENTING that are now riding and leading the recovery theme. Potential low risk entry via pullback trading or breakout trading together with the targets at the key levels are covered in the analysis.
CUP AND HANDLE ? Post-pandemic . We should looking for cup and handle chart pattern at recover counter .
GENTING - Bull run likely in progressElliott Wave Theory suggests that:
Genting has probably completed its Major Correction (A-B-C) since its inception back in 2003 & is currently primed for a Wave 3 bullish impulse
GENTING BHD LONGBusiness Overview: Genting Berhad is principally an investment holding and management company. The Group is involved in leisure and hospitality, oil palm plantations, power generation, oil and gas, property development, life sciences and biotechnology activities, with operations spanning across the globe, including in Malaysia (the Group’s country of origin), Singapore, Indonesia, India, China, the United States of America, the Bahamas, the United Kingdom and Egypt. In the core leisure and hospitality business, the Genting Group and its brand affiliates, market and offer a suite of products under a number of premier brands including Genting, Resorts World, Genting Grand, Genting Club, Crockfords, Maxims, Crystal Cruises, Dream Cruises and Star Cruises. The Genting Group also have tie ups with established names such as Universal Studios, Premium Outlets, Zouk, Hard Rock Hotel, Hilton and other renowned international brand partners.
Fundamental take:
As business in Malaysia contributes a significant portion of Genting Bhd's performance, Genting bhd is affected by the covid situation in Malaysia and other parts of the world. Malaysia has been fighting hard in this covid situation and certain states experienced periodic MCO/lockdown for the past 9 months.
Nevertheless,
1) Recent financial performance has shown core gambling business improved after the first major lockdown and losses reduced.
2) Vaccine will reach Malaysia in the 1st Qtr 2021.
3) Chinese New Year is round the corner. Many itchy hands will try their luck in the "prosperous" 15 days, making Genting Bhd prosperous.
4) Tourism plays a major role for Genting Bhd to recover back to pre-covid share price RM 8-10. With an assumption of vaccine is effective to control the covid situation, we expect Malaysia to open up the tourism sector in 2nd half of 2021, hence a rise in share price in the next 2 years
Genting Bhd will move into the black in 2021.
On the flip side, any major deterioration in the covid situation or government intervention (lockdown) in the 1 Qtr would adversely affect Genting Bhd's performance and delay her recovery.
With cost cutting efforts in 2020 and sufficient cash in reserves, Genting can withstand another covid impact, and grind out of this crisis.
Technicals:
- Genting Bhd broke its major downtrend resistance and is currently doing nice pullback along the resistance trendline.
- Expect the support range of RM 3.85 - 4.22 to hold for the upcoming joyous Chinese New Year.
- Risk of false breakout is low at present unless a change in Malaysia's situation.
Entry Price: RM 4.24 - 4.45
Take Profit:
1) exit on major resistance levels (of your choice)
2) wait until Malaysia opens up tourism sector and gambling numbers recovered 80%
Good luck in Trading and have a prosperous 2021.
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Genting, falling counterHe could be the first one fall back to 16/3 price.
Support 2.815 follow by 2.445.
Follow my FB page for more uptrending counter.
Trade idea for Genting BHDOverall trend for weekly and monthly still in the bearish mode as we know hospitality and tourism industry still imbattling with COVID-19 . However as an intraday trader you can catch an opportunity on the bulling engulfing at daily timeframe for the entry point . Let’s see how the market plays , trade at your own risk
Trade Idea for Genting BHDOverall trend on weekly and monthly is still bearish as we know tourism and hospitality industry currently still battling with COVID-19 . But you can catch an opportunity for intraday trader on the bullish engulfing formation at daily timeframe and possible double top formation . Let’s see how the market plays , trade at your own risk -Zaim
Genting, again, how low it can go?Downtrending and now coming to cliff. Support line 3.64 and follow by 2.88.
Short term rebound play only if you dare to grab the falling sword.
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Disclaimer: I am not Investment guru. Every stock analysis are purely for my personal learning and practice purpose.
It is not for any buy or sell call to anyone. Everyone are responsible at your own trades.
Target LONG DENTINGIf refer to monthly tf, we can see that this is the third time price reject support . And currently price able to break previous resistant. So i will be looking for buying opportunities area hidden base tf h1 (more interested at this area due to still fresh) or demand below it.
GentingStrategy
-Short Term Trade.
-Price entry at 2.32 or below with Stop Loss set at 2.15.
-Attractive Risk Reward.
-Malaysia MCO expected to end on 09th June 2020.
-Prime Minister expected to announce the by coming week (1st week of June).
-Genting Malaysia expected to reopen its business upon announcement by PM.
-Details of MCO announcement whether it allow to reopen the business is crucial in determine the share price.
-If the news is positive, the price is most likely to break resistance level of 2.41.
-Its for short term trade as the coming quarter result will be even worst than the 1st quarter of 2020.
Technical Analysis
-Resistance level at 2.41.
-Support level at 2.23.
-Consolidating price movement (many are collecting).
-Price bearish percentage are keep on thinning showing the sellers are reducing.
GENTING - MALAYSIA STOCKLeft-Chart - Buy below these indicator
Right chart - Analysis
Growth - Potential Growth of the stock price based on historical performance
Book - {Safety Precaution} Even if the company Bankrupt, you MAY still profit. Calculation based on all asset.
Net-net - {Safety Precaution} Even if the company Bankrupt, you have higher chance still profit. Calculation based on current asset only
P/E - Buy below this price if you want fast return on your investment.
Graham - Using Graham's number formula (Google it, I'm not sure how to explain)
Income Margin Average - Average Margin
Dividend Average - Average dividend
PEG Ratio - Indicator to show overvalued or undervalue share price. Over 1 is overvalued, under 1 is undervalued
Turnover - Measures the efficiency of a company's use of its assets in generating sales revenue or sales income to the company.
