Strategy
-Short Term Trade.
-Price entry at 2.32 or below with Stop Loss set at 2.15.
-Attractive Risk Reward.
-Malaysia MCO expected to end on 09th June 2020.
-Prime Minister expected to announce the by coming week (1st week of June).
-Genting Malaysia expected to reopen its business upon announcement by PM.
-Details of MCO announcement whether it allow to reopen the business is crucial in determine the share price.
-If the news is positive, the price is most likely to break resistance level of 2.41.
-Its for short term trade as the coming quarter result will be even worst than the 1st quarter of 2020.
Technical Analysis
-Resistance level at 2.41.
-Support level at 2.23.
-Consolidating price movement (many are collecting).
-Price bearish percentage are keep on thinning showing the sellers are reducing.
-Short Term Trade.
-Price entry at 2.32 or below with Stop Loss set at 2.15.
-Attractive Risk Reward.
-Malaysia MCO expected to end on 09th June 2020.
-Prime Minister expected to announce the by coming week (1st week of June).
-Genting Malaysia expected to reopen its business upon announcement by PM.
-Details of MCO announcement whether it allow to reopen the business is crucial in determine the share price.
-If the news is positive, the price is most likely to break resistance level of 2.41.
-Its for short term trade as the coming quarter result will be even worst than the 1st quarter of 2020.
Technical Analysis
-Resistance level at 2.41.
-Support level at 2.23.
-Consolidating price movement (many are collecting).
-Price bearish percentage are keep on thinning showing the sellers are reducing.