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Thursday, August 3, 2017

Genting - Results Beat Expectations, Could Retrace Before Rebounding

Results of Genting Singapore beat expectations! Second quarter 2017 EBITA up 152% year on year to $293m. DBS upgraded the stock with a new target price of $1.45, which represents a 23% upside.

In spite of the bullish call, this blog is short term bearish on this stock, seeing how insiders were buying ahead of the results. It could retrace to $1.14 in the short term before rebounding. Any break below $1.13 will be long term bearish.

All posts and charts are for educational and illustration purposes only

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