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Genting Retesting $1.30 Milestone
Need to clear and stay above $1.30 to continue upward climb within the red bold channel. Immediate resistance is the blue bold resistance line. Failure to clear blue bold resistance line will result in pullback towards lower support of red bold channel.
View chart at http://tactcharts.blogspot.sg/
Genting Channel Within Channel
Resistances
1. Upper dual resistance band of blue minor channel
2. Upper dual resistance band of red major channel
3. Milestone $2.50
Supports
1. Natural psychological support $1.90
2. Orange support zone
3. Green support zone
4. Lower dual support band of blue minor channel
5. Gap Support Band $1.30 to $1.35
6. Lower dual support band of red major channel
View chart at http://tactcharts.blogspot.com/2010/09/genting-channel-within-channel.html
diving?
A shooting star in the making??
Genting Channel Projections of Bowl Breakout Pattern
Bowl pattern breakout currently testing dual resistance of median zone of the red channel. Bowl breakout measured move target is around 1.80 but needs to punch through red channel median resistance zone. A successful breakout above red median zone will test blue channel dual upper resistance band.
Support zones for pullback may be found at the following locations
1. Lower dual support lines of blue channel
2. Red channel lower support
3. Green gap support zone
4. Mid marubozu support at 1.40
5. Light blue gap support area
View chart at http://tactcharts.blogspot.com/2010/08/genting-channel-projection.html
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Genting Approaches Double Bottom Measured Move Target Projection
After clearing above 1.07, the light blue immediate resistance is the next band to overcome. This band marks the projected target for the double bottom breakout confirmation based on the difference between the pink support and the 97.5 milestone. A strong breakout above the immediate resistance band will probably test the green resistance zone followed by the orange resistance region.
Take note that any pullback from the red upper channel dual resistance lines will retest the lavender immediate support area. Further weakness may find support at $1 .
View chart at http://tactcharts.blogspot.com/2010/06/genting-approaches-double-bottom.html
I have sold 30 lots at 1.06 on Monday and will wait till price fall to 92 cents. Maybe this will happen on Thursday or Friday?
Hulumas ( Date: 01-Jun-2010 19:10) Posted:
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Oh no, back to <Sgd. 0.70 will be possible.
E-war ( Date: 01-Jun-2010 17:59) Posted:
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Super no faith in ML? haha...
phil1314 ( Date: 31-May-2010 20:02) Posted:
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looks like merryl lynch got a hand in genting.
phil1314 ( Date: 31-May-2010 20:02) Posted:
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Since Merryl Linch recommend buy, then is time to sell. Recently run up alot.
niuyear ( Date: 31-May-2010 16:45) Posted:
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Ironically, both sides of chart always has a 'determining factor' i.e. Human beings.
eg. one crazy fellow suddently sells millions of lots and the stock chart immediately turns ugly.
tact888 ( Date: 30-May-2010 13:46) Posted:
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Genting Betting on 200 SMA Resistance Band
The bulls lost 3 times in the past as indicated by the red down arrows when they played against the 200 SMA resistance band. Another bull attack is imminent on this bear fortification. Victory here will advance the bull march towards the triple bear resistance defence lines from 1.10 to 1.18 and challenge the 1.20 milestone.
If history is repeated and the 200 SMA band continues to stand then a fall towards 95 will be inevitable. Further weakness will test the 91 to 88 support zone. Major base support is at 85 to 83 and support failure here may see a drop towards 80 and 75support zone.
View chart at http://tactcharts.blogspot.com/2010/05/genting-betting-on-200-sma-resistance.html
Genting Hammer Variant Testing Neckline Channel
The powerful Ichimuko Kumo bear grip has forced price to fall from the top of the cloud until the bottom of this storm kumo.Once again the neckline channel of the complex head and shoulders pattern is being tested. Immediate resistance at 93 must be overcome to advance to the 95 milestone. Major resistance is the green former support turned resistance zone.
If weakness returns then a drop into the red neckline channel will be inevitable followed by a test of orange support band. Major support is the lavender support base.
View chart at http://tactcharts.blogspot.com/2010/05/genting-hammer-variant-testing-neckline.html