I remembered, in 2009, everyone was talking about buying her . My friend, my mom, my sister, her friend, many others talk about buying her when she was around S$1.20. Well, I didnt get any as I feel the high brokerage and the exchange rate loss deter me from investing her. She really did climb to her high 2.33 around Nov2010. Since then she has been slowly trending lower before she caught in a SIDEWAY CHANNEL since Aug2011. And now, she is at her lower channel line again, broke slightly below the lower channel line of 1.41. She is now trading around 1.385 ~ 1.42. So, is it a good buy now ?
Well, 2 weeks back I was attending Maybank Fundamental Analysis Talk by KimEng/Winson, he did mention, buying Genting SP at 1.41 would be a good buy in terms of FA point of view. Coincidentally, TA point of view is also good. So, what do you all think ?
My take is if this support 1.385~1.42 hold, then after collecting it, one would have to patiently wait to P around 1.74 (22%). If this important support breaks, then I would wait for 1.24~1.28 for a tactical entry.
My take is if this support 1.385~1.42 hold, then after collecting it, one would have to patiently wait to P around 1.74 (22%). If this important support breaks, then I would wait for 1.24~1.28 for a tactical entry.
Genting Bhd: Singapore to amend casino law
ReplyDeleteIt was recently reported that the Singapore government, via the Casino Regulatory Authority (CRA) as well as its trade, home affairs, finance, and community development ministries, announced a slew of improvements to the 6-year-old Casino Control Act. It is now seeking feedback from the public starting yesterday till Aug 6. The key proposals included raising the maximum fine allowable for disciplinary action taken against casino operators to 10% of gross gaming revenue from the current SG$1m limit. Another proposal involved junket operators, also known as “international market agents” (IMA), where the CRA would have the power to set a cap on the commission payable to them by the casino companies.(StarBiz)
Any effect on the share price for the news above?
Need wait for August result only buy?
sumday,
ReplyDeleteDefinitely some minor effect, I'm talking about here is as a long term investor which means this news is not much effect in the long term (market will absorb or forget about it). For a trader, we just need to wait for the rebound signal for an entry which till now not clear indication yet.
she has finally breakdown for her support and closes at 1.37 . so, lets wait for her at 1.24~1.28 and see this one holds or not.
ReplyDelete