Outlook - Strong Sell. All technical indicators are pointing to ...
...Genting SP used to be such a popular and hot stock with a wonderful tale of its rise from 40-50cents to a $2 stock in its hayday in 2008. Now its daily turnover value is a far cry from the usual top volume placeholder it used to boast. In fact, this is surprising. Tourism in Singapore has been doing so strongly since the inauguration of the controversial twin casinos and in fact despite all the economic downturn, tourism receipts have not seen a decrease. The casinos are definitely raking in big money in this operating period but why has Genting SP price shed so much over the last 3 months? And in particular, has investor confidence been that badly startled by its unannounced stake in Echo that may lead to bloodshed with rival Parker in Australia? Will there be a win win situation?
