Media Prima Bhd really surprised me today. After completing its sub-wave v of wave 5 at Rm 1.60, I was expecting this stock to undergo two months of consolidation. It went into extension sub-wave vii today after breaking its short-term resistance line S-T as shown above. The magnitude for sub-wave vii is rather difficult to project. Its immediate target is to break its long-term resistance at around Rm 1.80.
KNM gained 4 sen (5%) with 93 millions share changed hand. A very bullish wave count is as shown above. Its sub-wave iii of wave 3 of major wave (III) has started today, quite a surprise to me when I was expecting the sub-wave ii to pull back to around 76 sen. It may need another 2 to 3 months to complete its major wave (III) with a minimum target of Rm 1.45 if the magnitude of major (III) is the same as that for the major (I). If major (III) is 1.618 that of major (I), KNM can reach RM1.90 on completion of its major (III). If there is no panic sell off for Dow, some individual stocks in Bursa Malaysia still can shine during the corrective phase of Dow. At this moment Dow is moving towards its upper trend line at around 10100, let's see what will happen after that and let's see whether Dow can break its upper resistance line and extend its wave form from 5 waves to 9 waves.
Media Prima Bhd really surprised me today. After completing its sub-wave v of wave 5 at Rm 1.60, I was expecting this stock to undergo two months of consolidation. It went into extension sub-wave vii today after breaking its short-term resistance line S-T as shown above. The magnitude for sub-wave vii is rather difficult to project. Its immediate target is to break its long-term resistance at around Rm 1.80.
KNM gained 4 sen (5%) with 93 millions share changed hand. A very bullish wave count is as shown above. Its sub-wave iii of wave 3 of major wave (III) has started today, quite a surprise to me when I was expecting the sub-wave ii to pull back to around 76 sen. It may need another 2 to 3 months to complete its major wave (III) with a minimum target of Rm 1.45 if the magnitude of major (III) is the same as that for the major (I). If major (III) is 1.618 that of major (I), KNM can reach RM1.90 on completion of its major (III). If there is no panic sell off for Dow, some individual stocks in Bursa Malaysia still can shine during the corrective phase of Dow. At this moment Dow is moving towards its upper trend line at around 10100, let's see what will happen after that and let's see whether Dow can break its upper resistance line and extend its wave form from 5 waves to 9 waves.
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