Genting Malaysia Berhad (4715) on 20.2.2019

After the panic sells in November, strong buyers have been accumulating at the price above RM2.80. The price started to move up with volume on 19.2.2019. After that the price stayed above RM2.91 and it started to move up until RM3.38. The 24.1.2019 candle shows that the price was not able to go down and it bounced up to test the RM3.38 resistance. 14.2.2019 candle shows a strong buy and it breaks the RM3.38 resistance on 20.2.2019. The price might go up and consolidate before it move further up.

Author: Gerald Koh