Highlights / Stock Picks of the Day - Genting Malaysia Berhad

A new uptrend has developed on Genting Malaysia Berhad's ("GENM") daily chart following a sustained decline that lasted over half a year. After returning to the upward sloping trend line last week, GENM's share price rebounded to form "Three White Soldiers", a bullish reversal candlestick pattern. The 20-day SMA has made a golden crossover with the 50-day SMA while the MACD has also crossed above the signal line and the zero line to reflect the start of the new uptrend. The 14-day Stochastic indicator and the RSI have both continued upward and we believe the share price's recent run-up may have some distance yet.

Source: Kenanga