Last:0.725    +0.005

GenSp starts to move up again

Agreed. Shareholders who received the notice of AGM,

pl. enlighten me whether in the agenda there is a call

for right issue.

I hope to pick up at $0.88. Maybe can make

some money for coffee and wanton mee, hahaha

Px. movement within tight range, not suitable

for trading.

Not true...Still got many slot machine available...But table card game...

Those gambler just place $2.5 to occupy the seat while don know run to where jalan jalan!!! Sheet!!! No seat for those who want to play!!!!

TP 92-93cPossible minor weekly uptrend in the making as tight 3.5c

Price : 89


Najeeb Jarhom

6236-2816

najeeb@amfraser.com.sg

Since it completed a 36.7% crash from $1.32 to 83.5c in early March,

Genting has been trying to rebuild its short to medium term uptrend.

Its long term uptrend from its 30.5c low in late 2008 to $1.32 peak in

Jan this year remains intact as it avoided making a full 50%

retracement to 81.5c, stopping at 83.5c.

Its renewed base building features are healthy as it had gone through

almost a year of relentless surge making one sharp breakout after

another from around 60c to 87c last May with the pace intensifying in

subsequent months breaking one new record after another from $1 to

$1.20 and finally $1.32.

Thanks to strong support at previous 86-87c peaks 3 years ago, the

counter has not dropped below 88c in the past one month. Any

unexpected fall to 86-87c would be a golden buying chance.

Although it ended weak at 88.5c at end-March, contrary to our

expectation in the March 25 trading idea, it was trying to finish its 3-

month correction phase, the longest span since the 30.6c adjusted

bottom in Oct 2008.

It had seen one dead MA cross soon after the March 4 83.5c low

which was followed by a good rebound to 97.5c. Another neutral cut

between rising 200-day MA (indicating intact long term trend) also

followed by a much trimmer gain from 88c to 92.5c.

With the falling 100-days MA ($1.06) likely to flatten out soon and rise

again, a bullish cross with 200-days ($1) may well take place in a

week or 2.

Just like the 2 earlier crosses, the stock usually bottomed out before

the cuts and with the current month base building at 88.5c to 92.5c,

another rebound this time to test the 38.5% recovery mark (at $1.02)

may well take place.

Other technical indicators such as RSI, Bollinger bands and MACDs

are more neutral than negative in line with the consolidation.

The 14-days RSI at 41 is not overbought and although it is above the

lows of 23-26 during the sharp selldown in February and early March,

it has stayed below 50 since then in line with levels around edn-2009

when the then base building around $1.05-10 ushered in the yearend/

new year rally.

The mid Bollinger band (at 91.5c) is acting as a cap with all 3 bands

flattening but should soon make a directional move, likely on positive

side. The daily MACD too is making a bullish signal which should

lead to the weekly MACD, at lowest since a year ago, turning up

soon.

I got confident we can.  So long as internet betting (casino) is not legalised, and so long as people gambling instint never dies off..   1 or 2 suicide case is isolated (though is related to betting in casino) and this will not deter casino business to move forward.

Casinos in singpaore is like 'too big to fail' for it is the main attraction  to be incorporated into the IR.  Look at singapore Expo, how many BIG corporation ever come here for exhibition in the past?  If casino here fail to make profits , thousand will lose their jobs.

Sands in US has retrenched quite a number of staff and it is said that they will probably be offered the job here and this is in turn, lessen our locals' job seekers' opportunity to work in MBS.