On 24/Feb, Standard & Poor's warned that the ratings agency may downgrade Greece to a level close to junk within a month and with worries compounded by news about the wide impact of a general strike in that country over the government's proposed austerity measures. The Greek news also fueled a sell-off in the euro against other major currencies.
This news has caused STI to lost 0.47% or 12.99 points to 2749.15 after rising to a high of 2774.09 in early trade with decliner’s outnumbered gainers 281 to 178. Although the VOL is low @ 1.27 billion shares but much higher selling pressure compared to Wednesday's 1.20 billion.
Do watch out for tonight
The selling pressure seems to recover for Genting today @ 0.14B shares traded and close @ $0.91. Note that the support of $0.90 may be re-tested again tomorrow and another round of sell-off may occur if the support break.
Immediate support: $0.90
Next immediate support: $0.85 (Would NOT encourage to q at this price if Genting drop below $0.90)
4 comments:
i have been following your blog.
thanks for the updates.
=)
i think i will only q for genting at its ipo price.
happy new year.
Hi smc
Thanks for the reply.
I was hoping for more comments as most my readers are just reading but seldom comment hahaha.
Some ppl say Genting is going down due to Las Vegas opening in April. I believe Genting will cont to have sell down pressure as quite a no of my friends are talking abt "shorting" genting now and no major news will be reported for Genting for the time being
$0.85 is definitely not a low price. I feel buy at this level will not necessary make money..
I will only queue at about $0.60.
Buy Super Low & Sell High...but need to wait patiently..
Nope i do not encourage to buy @ this price too. But many ppl are asking me abt "shorting", that y i have this ans.
My friends wan to buy @ $0.70 and u wan to buy @ $0.60. It too far away so i dun usually think so much.
By the way luck for ur trades
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