KUALA LUMPUR (Feb 2): OSK Retail Research is still eyeing the RM4.26 and RM4.60 levels as the upside targets for Genting Malaysia.
In its previous analysis on Nov 8, 2011, it advised traders to accumulate Genting Malaysia’s shares during the consolidation phase in the RM2.96–RM3.93 range and wait for a possible re-test of the RM4.60 historic high in the future.
“After nearly two months, the RM3.93 level was finally violated with very strong volume on Tuesday.
“The stock is now expected to continue extending its upward move within the uptrend channel. We are still eyeing the RM4.26 and RM4.60 levels as the upside targets,” OSK Research said.
In its previous analysis on Nov 8, 2011, it advised traders to accumulate Genting Malaysia’s shares during the consolidation phase in the RM2.96–RM3.93 range and wait for a possible re-test of the RM4.60 historic high in the future.
“After nearly two months, the RM3.93 level was finally violated with very strong volume on Tuesday.
“The stock is now expected to continue extending its upward move within the uptrend channel. We are still eyeing the RM4.26 and RM4.60 levels as the upside targets,” OSK Research said.
