Inch Kenneth and Ingress Corporation

Inch Kenneth

Inch Kenneth gained 5 sen (8.5%) to closed at 63.5 sen with a record volume of 15 million shares. From the 5-year chart, Inch Kenneth is somewhere at its wave 3 of major (IV)



The record volume prompted me to assign a sub-wave iii of wave 3 of major wave (V) to its chart. It still has more for it to move higher. Is the Bangi land sale (600 acres) about to be conclude? If so, that will give Inch Kenneth a cash per share of 50 sen to 60 sen. The cash will be very handy for Inch Kenneth to develop its 350 acres of land in Kajang.

Ingress Consolidated

Ingress reported a first quarter earning of 13.6 sen/share and NTA of Rm 1.91 per shares. The company expects its revenue to improve further with improving sales of cars in Malaysia, Thailand and Indonesia.

It has completed its major wave (II) in May 2010. In the last two months it has completed wave 1 as shown below. If it is not able to break the 84 sens level it will have to move down to about 72 sens level to complete wave c of its wave 2. However if it breaks the 84 sens level and moves higher towards Rm 1.00, then Ingress is at its sub-waves vii of wave 1.