KUALA LUMPUR (July 16): AllianceDBS Research said Genting Bhd (Genting) had on July 15 traded within last Friday’s range to form an inside day bar before closing at RM6.65 (up 3 sen or 0.45%).

In its evening edition July 15, the research house said Genting continued to trade below 20-day (blue) and 50-day (red) moving average lines in the last 6 days.

It said the inside day bar indicated a breather in the game play.

“Following the up close on July 15, the stock is likely to trade higher with immediate hurdle at RM6.72. A rise above RM6.72 would see the stock gearing towards the next resistance at RM6.88.

“The support is pegged at RM6.58. A fall below RM6.58 should see further price decline to the subsequent support at RM6.45,’ it said.

AllianceDBS Research said stock volume traded on July 15 was 3.08 million shares compared to the 3-month average volume of 3.06 million shares.