KNM - Ready to run?

Continue from my article on September 21, the wave count on a 5-year chart remains the same.

The wave count for wave (I)-(II) is as shown above.

On the 3-month chart above, KNM is 7 days into wave (III) that has a potential of reaching Rm 1.43 or Rm 1.88 as mentioned in my September 21 article. From the chart above, it appears that sub-waves i and ii were completed. Sub-wave iii has put on its first candlestick. In the next few sessions if it can break the 82.5 sen and the 91 sen levels with volume reaching 15 millions, it will continue its journey to at least Rm 1.43 with possible height of Rm 1.88.

However if it fails to break the 82.5 sen level and starts to turn lower, and the volume is less than 10 millions, then it is forming a-b-c sub-wave ii as shown below. It can also form a-b-c-d-e sub-wave ii if it continues to drift side way if market condition (Dow, Hang Seng etc) is not conducive for a run-up. But ultimately wave iii will have to start, it is a question of when. Trading volume may be able to indicate.


But my bet is sub-wave iii has started as I expect Dow to start running very soon.