Genting Singapore (G13.SG) +0.5% at $2.04 on modest volume, tracking broad market uptick.
While +4.6% to date from 2-month low of $1.95 set last week, stock still struggling to gain momentum as near-term catalysts lacking after strong rally since gaming group returned to profitability in 2Q10.
Still, "there are optimistic technical signs as well as a good track record that can be used as a gauge to call a trading buy on Genting," says AmFraser Securities strategist Najeeb Jarhom.
Says stock having "good 1-2 week run-ups" at start of each month since September before pullbacks towards month-end; "this pattern may be played out again in the next couple of weeks."
Expects shares eventually move back up to $2.07-$2.14 levels "quite easily".
/theedgesgp/