Facb announced a poor 1st quarter earning, losing 0.47 sen a share. Facb made 3.24 sens a share in its previous quarter. Its latest net assets per share is Rm 2.51. However its balance sheet remains healthy.
It has cash of Rm 148.8 million and zero borrowing.
Facb has 84 million shares, thus cash per share is Rm 1.77. It ended today's trading at Rm 1.37, very cheap but its earning is lousy.
There are two possible wave counts for Facb. First possibility is wave (ii) formation.
It will need another month or two to complete the wave b & c of its wave (ii).
The second possibility is more bullish, it is forming its sub-wave ii at this moment and it may have ended.
So, if it can surge within this or next week, it is possibility 2 :). Failure which, it is possibility 1, half dead for the next 1 to 2 months :(
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