Friday, April 4, 2008

Genting Bhd Case Study

Genting BHD was down by 2.29% yesterday. Let's take a look at the technical
chart for this stock.

The 14 day ADX line is at 20.99. It has come down from a high of 34 set on
18 Mar 2008. This shows that the down trend is not as severe as the
previous week.

The MACD chart is still showing an up trend with the MACD indicator above
it's 9 day MACD Signal line. The crossover occurred on 25 Mar 08 which
coincides with the up move from 6.30 to 6.80. However, the MACD histogram
is decreasing which shows that the up move is beginning to slow down.

The RSI value is currently below 50 but it has not reached the oversold

Overall, the stock has hit a resistance at 6.80. However the down trend is
not as strong as previous week and the MACD is still showing strength. The
support level is at 6.00.

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