Inch Kenneth opened its trading with a gap on Friday and moved up strongly and swiftly to Rm 1.02 within 10 minutes with high volume. Seller emerged in late morning and in the afternoon session to push the price lower. It closed at 99 sen for a 4 sen gain with 6.7 millions shares traded.
Its long-term chart looks very bullish. An inverted head and shoulders formation. It punched the neckline in January followed by a 'a-b-c-d-e' sub-wave iv consolidation resting on top of the neckline.
It is likely that its sub-wave v of wave (iii) has started.
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