Inch Kenneth and Dutaland

Inch Kenneth Finally took off today with very high volume of 36 million shares exceeding its record volume of 15 million in April. It put on 12 sen (32%). I suspect it has finally managed to sell its 600 acres of land in Bangi next to Alam Sari Development Project by Island & Pinansular. At Rm400,000.00 an acres, it will give Inch Kenneth 57 sen per share (Total number of Inch Kenneth shares is 420 millions). Besides this piece of land, Inch Kenneth has another 350 acres in Kajang with an estimated gross development value of Rm 1.2 billions to Rm 1.5 Billions. Its total bank borrowing is about Rm 20 million.

It has completed its major wave (I) & (II) and sub-wave i and ii. It is currently in sub-wave iii of 1 of (III). If (III) is of the same magnitude as (I), the target is 57 sen. If (III) is 1.618 of (I), the target is 74 sen.

Dutaland has a wave form quite similar to Inch Kenneth. Wave d as shown above, appears to fall short of the upper trend line, however, the candlestick chart below shows a perfect wedge with e overshoot the lower trend line. (wave e can fall short or over shoot)

Dutaland has completed major wave (I) & (II) and sub-wave i and ii. Same as Inch Kenneth, it is currently in sub-wave iii of 1 of (III). If wave (I) and (III) is of the same magnitude, target for (III) is 99 sen. If (III) is 1.618 of (I), the target for (III) is Rm 1.25.

Dutaland wave count can be similar to Inch Kenneth but the subsequent wave form can be of a different story

Dutaland has a warrant, Dutaland-WA, expiring in April 2012 with a conversion price of Rm 1.00. The warrant closed at 21.5 sen today when Dutaland closed at 62 sen.