On Friday, StraitsAsia continue to trend downwards and closed at $2.42 with LOW volume of 0.99 million shares traded.
A black candle stick with little upper shadow indicates that prices have issues going further up as investors choose to take profit.
Both RSI & MACD are turning flat as MACD lines began to converse together.
Important Resistance of StraitsAsia: $2.46
Immediate Support of StraitsAsia: $2.39
Currently prices are resisted by the 50 days MA.
Prices have rebounded from the $2.39/2.40 support and tried to re-test its immediate resistance at $2.46.
RSI and MACD already shown signs of easing of selling pressure and further buying pressure is expected any time soon.
If interested, do monitor if the $2.46 resistance can be broken at high volume.
On Friday, Genting SP re-tests the resistance at $2.14 and closed at $2.10 with LOW volume of 9.06 million shares traded.
A black candle stick with no upper/lower shadow demonstrates that investors have no qualms in selling down this stock.
Both RSI & MACD are turning flat as MACD lines began to converse together.
Important Resistance of Genting SP: $2.14
Immediate Support of Genting SP: $1.95
Currently prices are resisted by the 20/50 days MA.
From the charts, we could see that Genting SP is forming a symmetrical triangle which could breakout from either side although the possibility of upwards is higher.
For the past few days, prices have been re-testing the major resistance at $2.14 and attempted to breakout of this level despite it failed many times.
Do monitor Genting SP in the coming week for breakout of this $2.14 resistance if interested.
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