Genting Malaysia bounced back, but does it have enough volume? [Coronavirus Effect]

lipkarlock Wednesday, January 29, 2020

Genting Malaysia share price has dropped quite significantly for the past few days.

All thanks to the coronavirus impact.

The share price dropped or gap down on 28 Jan.

Today, it started to bounce back about 2% from yesterday.

Daily Candlestick Chart

Technical Analysis - Heikin Ashi Candlestick, RSI and MACD

Based from RSI and MACD - do not see a strong momentum yet.

MACD is still at negative zone.

Trend signal has not slope up yet.

RSI - still at low RSI value, sign of weakness.

Heikin Ashi - still on downtrend.

Need a green candle to confirm the uptrend.

Suggest investor to wait for 1 to 3 days for confirmation.

Can start to DCA a bit.

Enter at your own risk.