Genting SP... Is she okay?

Today let's take a look at the popular Blue chip Genting SP.

1. Price has closed below the mid term 50MA and long term 150MA. This 2 moving averages will now act as strong resistance level at round 2.05 for any upwards price movement. By the way, this level also represent the trendline extended from last year end September.
2. Falling prices has more volume compared to rising price. This looks like distribution from the big players.
3. It represent some sort of a Head and Shoulder pattern (see below). This makes a ominous price reversal pattern upon neckline break.

A good price to enter will be around 1.80 - 1.85 region (this represents the confluence of fib38.2 from swing low last year May and swing low in end September). Of course, this should coupled with more evidence. For example: rising 150MA, strengthening momentum, strong volume on breakout etc.

Happy profiting!!!