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STI

Genting (G13) : Bearish with heavy resistance

 

The Ichimoku chart for Genting is very bearish.

The drop in May till now is steep; going down from $2.25 to 1.78

There is still no sign of consolidation for the price and heavy resistance can be seen from the thick kumo ahead.

Immediate resistance is at $1.94

On the Weekly Ichimoku chart, we can see possible good support at around $1.58 and that could be a good entry point.