On Friday, Genting SP re-test the support at $1.50 and closed at $1.525 with HIGH volume of 0.155 billion shares traded.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 6 falling windows in the last 50 candles–this makes the current falling window even more bearish.

RSI & MACD are bearish though RSI in oversold region.

Immediate Resistance of Genting SP: $1.63

Immediate Support of Genting: $1.50

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

Since April 2011, prices has been trending downwards forming a lower high and lower low. This affirms to a mid term bearish term.

The support at $1.50 is expected to be very strong although we would need more confirmation as Genting SP is under very heavy selling ...