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Thursday, 19 June 2014

Genting Malaysia: 19 June 2014, Thursday, 7.15pm Singapore Time

Genting Malaysia: 19 June 2014, Thursday, 7.15pm Singapore Time
Chart courtesy of Chartnexus.com

On reaching price satisfaction zone of $4.32, Genting Malaysia has been undergoing re-distribution at 2 standard deviation (2 Sigma) along an oscillation path around PSZ of $4.32. One Sigma = $0.10 or 10 cents.

Genting Malaysia has been deliberately suppressed despite a +10.000 broad markets' FFA.
FFA +10.000 is ending, and resumption in sell-off will proceed to do damage to the price structure. This bear market transition is also as per warned during end-2013 and early-2014 in daily FFA.

Based on overall technicals, Genting Malaysia will break down $4.10 and $3.70 respectively. 
It will also eventually break down $2.80-$2.90 as a big wave down to create multi-year lows.

Donovan Norfolk Technical Rating:
Bearish
Bear Market Transition
(Sell on Rebounds)

Related:
http://donovan-ang.blogspot.sg/search/label/Genting(All Genting Analyses)
http://donovan-ang.blogspot.sg/search/label/Genting%20SP (All Genting Singapore Analyses)
http://donovan-ang.blogspot.sg/search/label/Genting%20HK (All Genting Hong Kong Analyses)




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