#MM, this was already part of their licence requirement to perform expansion at a certain period. Its not a surprise to many fund managers who follow GentS. Only to a retailer its a news but its already part of the licence when SG Govt gave them the right to start a gaming bz.
Too many sellers surface when price moves slightly….suggesting investors are by in large day traders in absence of meaningful volumes…. A catalyst is needed…such Taurx approval can’t see any other catalysts other than perhaps new additional gambling licenses
Look at two broker recommendations …HLG and Kenaga …a huge variance in price target. Shows how useless these guys are….both are wrong by a long shot. How can they write this drivel!
The price was 5.45 plus when the group was making losses. Now it is just profitable the price has depreciated by more than 25% ….reason macroeconomic and political conditions….even though is see improvements in revenue and profitability other factors will keep lid on the price, this is despite the fact the book value Is 8.45. In addition there are unique set of factors which impact Genting which is share dealing by insiders. These are factors are not addressed by brokers….only catalyst i see is Taurx.
Genting Singapore's $6.8 billion expansion spend, announced by the company on Nov 10, far exceeds the $5 - $5.5 billion capex projected by DBS Group Research..
Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020
Wholesale prices in October posted their biggest decline in 2½ years, providing another indication that the worst of the inflation surge may have passed.
The producer price index, which measures final-demand costs for businesses, declined 0.5% for the month, against expectations for a 0.1% increase from the Dow Jones consensus, the Labor Department reported Wednesday. The department said that was the biggest monthly decline since April 2020.
I like GENTING's price action today. I am overweighted near 4.16, 4.12 and 4.07. It has broken the downtrend line established since this year's high early this year, so, cannot complain. However, there's a lot of resistance from here. E.g. next main one around previous swing high near 4.57. I expect many players will be queueing to sell near there, given the chart structure ... some will also queue to sell near 4.50 round number resistance. Plus market has been lacklustre where strong moves like today tend to invite sellers.
Both airlines (Scoot and SIA) carried just under 3.1 million passengers in October, up 36.1 per cent from October 2022. This was also higher than the 2.9 million passengers they carried in September.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Michael_chan2022
3,349 posts
Posted by Michael_chan2022 > 2023-11-14 07:18 | Report Abuse
Gap up.. push thru' 427/428 at opening