Finally, GENM starts to move and break the RM3 barriers. :) But many TA would think this is not convincingly enough to break above RM3 as it last closed at RM2.99. In technical term this might called a pinocchio bar or in short pin bar as GENM rammed up to RM3.11 before settling down at RM2.99. Gosh, so volatile. !!
Even so, this has not confirmed as pin bar as yet, cause, a confirmation of pin bar would depend on the third bar which mean this would need to depend on tomorrow bar forming, if the third bar makes the pin bar sticks out noticeably in between, then we can confirmed it is a bearish reversal pin bar formation. wow !! talking technical here. ha ha ha ha
Am sure you guy heard a lot of this, if the breakout not convincingly break through, further down side would be expected. walau er..... i am just another technical expert here. aikse man. Don't mean to teach technical here. In fact long term guy like me don't depend on technical as these kind of stuff would not apply to long term investment. :)
In short, i have sold some GENM out at RM3.05 today. Reason is simple, because i don't believe GENM will ever give special dividend anymore. They are talking about spending few hundred millions for RRPT for buying UK casinos from GENSP. So, what is that more to expect for special dividend so to speak. This trend up is an opportunity i believe and it make way for me to look at GENSP instead. So, seize the day if you can. Till then happy trading.
1 comment:
Horse,
Good that you have disposed off your "Resorts" at 3.05RM. I am still holding on to mine. Ambivalent. To sell or not to sell. When I am unsure, I hold.
This morning, I walked into my trading room, GenM was 3.09RM. Too early... I walked out. This afternoon, late... it was 2.99RM Haaa... may be missed the boat. Look at the Fundamentals... still not too bad. Dilly Dally... in the end. I hold!!
We both walked a differnet path. Not sure who's right. See the next few days.
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