Inch Kenneth, Scomi, MRCB, Duta Land

Inch Kenneth remains in wave 3, its OBV is particularly strong. At the same price level as January 2008 the OBV accumulated is 250 million shares which is close to 60% of its total number of shares. No sign of distribution so far.

Scomi Group's OBV has started to set new height whereas its stock price remained within the down trend channel, a very strong sign of accumulation. As volume precedes price, with the OBV breakout, the price will have to breakout and run. It has completed its major wave (II) A-B-C and the sub-wave i of its wave (III). At the begining of (III), this is an excellent stock with limited downside risk. Minimum target for wave (III) is RM 1.00. If wave (III) is the extended wave then the potential minimum target is Rm. 1.30. can easily double the money. Watch out when it breaks 50 sen level.

Somebody asked me to have a look at Scomi Marine. It has a rare expanding triangles. An initially strong OBV has turned into a normal OBV at the moment. Just compare its OBV with that of Scomi Group, one can readily see the difference. It has started its wave (III) with minimum target at 95 sen.

MRCB is an excellent stock on the run with both its OBV and price breakout. If magnitude of wave (III) is same as wave (I), Rm 2.20 is the target. If wave (III) is an extended wave then 2.75 becomes the target.

Duta Land shows strong OBV accumulation, its OBV and its price moved in opposite direction as shown. Its OBV is on the verge of breaking out possibly together with a price breakout from its downward channel. For those who have bought Duta Land in June and have been frustrated over this stock, I think good time is around the corner. Minimum target for wave (III) is 90 sen. Its Warrants at 20 sen is a good bet to get more than a double.

Things may look promising at the moment, but chart-form can change, OBV can change, always look out for the unexpected.