Are you all ready? Had you tighten your seat belt?
Let’s look back at what we had posted on 05-05-10 on Genting International as below.
“Looking at Genting International chart, easily to find double bottom formation. One from the weekly chart the price itself, and another from the stochastic oversold region as shown.
However, would this be a valid double bottom form in such a low market sentiment??? The beauty of chart analysis is we always enter by confirmation with stop. In this case, breaking the resistant at $0.98 would indicate a higher probability to see higher price on this counter. Anyway, this is a weekly chart and most probably may test our patient for the day to come.”
Today, we have a beautiful breakout on Genting International at $0.98. Double bottom + resistant breakout + golden cross of KD line (if we look at weekly chart, it is just a start). Estimated very soon the price will back to $1.08 region where we can see the first profit target achieved at this level as well. Good Luck!!!
