By now, you probably have read the following news
DJ UPDATE: Genting Affirms Interest in Australia''s Echo After Singapore Unit Sells Stake (2012/09/19 21:21PM)
-Genting's Singapore unit is selling its entire 4.8% stake in Australia's Echo at A$3.99 per share.
-Genting's Hong Kong unit will keep its Echo stake
-Genting's Hong Kong unit will still seek regulatory approval to buy more than 10% of Echo
Genting Singapore (1 August 2012, it closed at 1.295)
On 2 August, we discussed that for those who are conservative, can see if there is a pullback to 1.240 - 1.250 or lower; whereas for those who are aggressive, can consider a range bound trade between 1.260 - 1.330. Besides that, we also discussed that A move above 1.320 will see resistance at 1.380- 1.400, followed by 1.460 - 1.480 in extension.
With ......
