Eye On Stock - Genting Malaysia

Genting Malaysia Bhd (code: 4715) appeared to be initiating a rebound in Friday trading as it turned higher to cross the 100-day simple moving average (SMA) on bullish momentum.

Breaking free of the moving average at RM3.15 in intra-day trade, the counter appears to be regaining some strength after retreating from the RM3.47 resistance on March 18. Based on the daily price chart, the share price is moving below the key SMA lines, which suggests a bearish outlook.