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GuocoLeisure: Will It Continue The Uptrend?
Trend Spotting | 26 April 2013
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By: Robin Han
Articles (102) Profile

GuocoLeisure just achieved a new four-year high again recently. It has been in an uptrend for around three months since December 2012. Looking at the weekly chart, we find that after the breakout of recent high, it has entered into a no-resistance zone. The next significant resistance is at $1.12.

Weekly Chart of GuocoLeisure

It may go up higher after the recent consolidation. Because it is likely to have a consolidation after the thrust on 23 April, one may consider buying on weakness during the current pull-back. It is important to be aware of the release of earnings especially for short-term trading setups. GuocoLeisure is likely to release its earnings report between 6 May to 10 May according to Thomson Reuters news.

Daily Chart of GuocoLeisure

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.

GL  0.775 +0.005 +0.65%   
Business: Co holds a portfolio of hotels, as well as a range of other investments. [FY18 Turnover] Hotels (92.2%), oil & gas (7%), ppty devt (0.8%).

Insight: Apr-19, 9M19 revenue rose 1.9% due to higher reven... Read More

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