Genting Singapore Share Price Perform Below ExpectationsGenting Singapore, a recovery play and tourism-themed company share price have dropped to $0.87. Markets had high expectations due to a strong QR, the rise of upcoming Chinese tourists, and the opening of Minion Land. However, the share price moved toward opposite direction. Institutional investors are selling, while retail investors keep buying. What’s next?
G13 trade ideas
Genting SP Expecting StrengthGenting SP saw strength today breaking out of its downtrend line with its Relative Strength indicator trading above zero, thus outperforming the market. FFI is also showing positive fund flow
Thus, there is expectations that Genting has exited its Mark Down phase.
1st Target: S$0.95
2nd Target: S$1.00
Stop: 10DSMA Trailing Stop
Key level to watch on Genting Prices are facing bearish pressure from our resistance where we could see a p pullback to test our support level at 0.860. Overall trend is still bullish for me as long as prices holds above the ascending trend line though I do caution the limited upside as prices are near our graphical swing high resistance on the daily time frame.
<TradeVSA> Initial Markup in Genting Singapore (G13.SGX)Sign of Strength in the chart:
1. Change of trend with increasing volume
2. Gap up above accumulation
3. Breakout with Green Pentagon high volume
4. No Supply signal in weekly chart
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
G13 (SGX) - Be Carefull for breakdownGreetings
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Strategy
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Analysis
G13 (SGX) - Be Carefull for breakdown
Genting - Potential riseLooks like it is re-testing resistance level. If this is successful, we will potentially see a rise above.
Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Give a thumbs up if u like the analysis :)
Are the gamblers back to the casino ?Read the latest news here
You can say that the Covid-19 has hit the travel and tourism business hard, real hard. Those who have been to the casino knows the atmosphere is different from betting online. It is not just about the winning but the ambience, the people, the light and sound all curated into an exciting place for people to try their luck.
I dunno if people gather in groups to bet online but I doubt so. More likely, the gambler will have to be on his own, using his laptop, mobile phone, etc. It just does not feel the same :(((
With a large junk of revenue lost through the casino, the entertainment related businesses like the theme parks are also affected.
I won't be too eager to get into any travel, retail or hospitality stocks/reits at this juncture as we see news of dividends being slashed. Yes, the price may appear low and cheap but cheap can get cheaper.
Will I want to short this stock ? Not as well since the risk/reward ratio is not that fantastic and moving into Q3 and Q4, we could potentially see a new vaccine being developed which could provide a short term boost to the stock price.
Those who are keen on short term trades may want to wait for the support at 0.685 to be broken down before initiating your short position.
Trade safely!