Highlights / Stock Picks of the Day - Genting Malaysia Berhad

The correction in the local bourse did little to dissuade investors from Genting Malaysia ("GENM") as the share price was able to hold on to gains made earlier this month. With the downward trend channel broken
on the 4 September (refer back to our technical report dated 5 September), GENM's share price has managed to find a solid level of support at the resistance-turned-support level at RM3.48. The strong
gains witnessed on Thursday have also propelled the share price out of the RM3.57/RM3.48 consolidation zone while the 100-day SMA was penetrated on the upside. Coupled  with the improving indicators, we
believe the technical outlook of GENM has improved significantly, with further gains expected moving forward.

Source: Kenanga