I have observed many counters listed in Bursamalaysia currently are having lack luster performance. Can this be an opportunity to bargain hunt? Well, the average PE of the market is actually not cheap right now, so it may not be wise to do serious investment by accumulating for a very long term of 3 to 5 years time frame. 13th General Election is around the corner and this GE13 is very fluid, which will definitely add one uncertainty factor to make many investors worrisome. Having said that, I will think that trading will be a better option now for us to try to make some money. I think Genting Malaysia is one of the many potential counters to buy and try to make some money right now.

   The chart above is taken from Chartnexus for Genting Malaysia. This counter has been on the downtrend since peaking at RM4.05 on 2nd February 2012. Now if you pay attention and look at it carefully it may be just coming out of the bottom at around RM3.30 (at least temporarily)
The following can be observed:-

1. The double bottom at RM3.30 serves a strong support. If this support is violated it may go lower. But it looks unlikely at least for now.

2. Parabolic SAR has given out a bullish sign or what is commonly called a reversal of trend.

3. RSI has gone below 30 and is now cutting abow 30, which is also a reversal signal.

4. MACD is showing a golden cross of blue line (faster line) cutting above the red line (slower line)

5. Similarly, stochastic is also turning up which is a bullish sign.

The horizontal lines I inserted in the chart are roughly the resistance on the way up (if any).
1st resistance is at around RM3.63 and if broken the next resistance will be roughly RM3.79, then RM3.91 and of course the strong resistance ultimately will be the last peak which is RM4.05. And if RM4.05 can be broken with huge volume it may go even higher.

Therefore, it maybe profitable to buy some now and sell higher later for a profit.

** This observation of mine is not to induce you to trade as there is alway risk involved. If you do use my information for whatever purpose the risk is yours. If you  cannot take risk always stay away from stock market **