On Friday, Genting SP re-tests the resistance at $2.08 and closed at $2.06 with LOW volume of 47.29 million shares traded.
A candle sticks with long upper shadow similar to a “shooting star” affirms that the rally has lost its strength as it approach the resistance at $2.08.
RSI & MACD are turning flat as RSI trend sideway.
Immediate Resistance of Genting SP: $2.08
Immediate Support of Genting: $2.01
Currently prices are resisted by 100 days MA at $2.08 and supported by 50 days MA at $2.01.
On 30 Mar, prices breakout of $2.01 resistance with high volume to boost the confidence of the investors.
However on 31/Mar and 01/April, Genting SP traded under very low volume and investor began to take profit upon reaching $2.08 resistance.
The momentum of the rally is clearly gone thus do watch this stock …