On Friday, Kepcorp trend downwards and closed at $10.57 with HIGH volume of 8.82 million shares traded.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 30 white candles and 17 black candles for a net of 13 white candles.
Both RSI & MACD are bearish as MACD perform a “cross down” recently.
Important Resistance of Kepcorp: $10.85
Immediate Support of Kepcorp: $10.30
Currently prices are supported by 20 days MA at $10.30.
For the past 3 trading sessions, there has been heavy profit taking as investors sell on the overbought market.
The support at $10.30 is expected to be strong.
It would not be feasible to buy on the overbought market now thus we suggest selling if vested once $10.30 support broken.
On Friday, Genting SP re-tests the resistance at $1.65 and closed at $1.625 with HIGH volume of 0.19 billion shares traded.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
RSI & MACD are flat as RSI trend sideways.
Currently prices are supported by 100 days MA at $1.575.
Immediate Resistance of Genting SP: $1.65
Immediate Support of Genting: $1.575
On 20 Jan. prices broke the critical resistance (Ascending triangle) at $1.575 with high volume which affirms to the bullishness of the investors.
However since then, prices have consolidate between the key support at $1.575 and key resistance at $1.65
The resistance at $1.65 is expected to be strong and we would not advise to buy especially on this overbought market.
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