Categories
| OSK Research: Genting Malaysia to trade sideways |
| Business & Market 2010 | |||
| Written by OSK Research | |||
| Friday, 30 April 2010 10:07 | |||
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KUALA LUMPUR: OSK Research says Genting Malaysia’s shares, which were actively traded on Thursday, April 29, could continue trending sideways. The research house said on Friday, April 30 that the stock has been trending sideways for many months and a trading range has been detected. It is ranging from the RM2.68 level to the RM3.00 level. "That means the stock is expected to until one of these two levels is violated. In other words, yesterday’s active trading in the stock’s shares does not signal anything significant," it said. OSK Research said the stock’s longer-term outlook will remain a sideways bias until it has violated one of these two critical levels. Within the trading band, look for an immediate support at the RM2.75 level and an initial resistance at the RM2.88 level.
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