Genting up 1.65% on positive technicals

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KUALA LUMPUR (June 20): Shares in Genting Bhd rose 1.65% this morning following a positive technical outlook on the stock.

At 9.25am, Genting added 11 sen to RM6.79 with 257,400 shares traded. The stock had earlier risen to a high of RM6.80.

RHB Retail Research said Genting Bhd may rebound further after it tested the RM6.45 support in the recent session.

In a trading stocks note today, the research house said given that it has formed a white candle for the third consecutive day, the positive sentiment has been enhanced.

“A positive bias may emerge above the RM6.60 level, with an exit set below the RM6.45 threshold.

“Towards the upside, the immediate resistance is at RM6.95. This is followed by the RM7.07 level,” it said.