“Genting Singapore PLC, an investment holding company, develops, operates, and/or markets casinos and resorts internationally. It also engages in online gaming operation; provides management, information technology consultancy, data centre, and other services; involves in the research and development of software; and provides loyalty programmes management, tour promotion, and sales and marketing services to leisure and hospitality related businesses. In addition, Genting Singapore develops and operates district cooling plants; develops, produces, and distributes television programmes; and involves in property business. The company was formerly known as Genting International Public Limited Company and changed its name to Genting Singapore PLC in April 2009. Genting Singapore PLC was incorporated in 1984 and is headquartered in Singapore, Singapore. Genting Singapore PLC is a subsidiary of Genting Berhad.” (Business summary from Yahoo! Finance)
Daily chart, April 2010 to October 2010
The recent Resort World Sentosa sends the share price higher and higher into an uptrend. On 1 October 2010, I spotted a good trading opportunity for Genting SP. After bear took over on 22 September 2010 and the share corrected for 2 weeks crossing over the 20 day Simple Moving Average (SMA).
On 30 September 2010, it caught my attention as it is cross the 20d SMA, at the same time the CCI indicator is below -100. This is one of the systems I use to trade in the market. In order for us to trigger the buy, the stock cannot go below the 50d SMA, but we do not have to look at the CCI anymore. Once the price crosses above the previous day high, it is a buy signal.
On 1 October 2010, this is clearly the case. Make sure you set your profit target, stop loss and time period. Happy trading! :)
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