On Tuesday, Genting SP broke the support at $2 and closed at $1.98 with regular volume of 0.103 billion shares traded.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

RSI & MACD are flat as MACD lines converge together.

Immediate Resistance of Genting SP: $2

Immediate Support of Genting: $1.95

Currently prices are well below 20/50/100/200 days MA.

Since Jan 2011, prices has been trending in the falling channel forming a “lower high” and “lower low”

In fact, the breach of psychological support at $2 signal bearish and may trigger heavy selling pressure tomorrow.

Moreover earning report of Genting SP has not been good in the fourth quarter.

Watch if prices can recover back to $2 level tomorrow otherwise it will likely to re-test $1.95 ...