Golden Pharos Bhd (Rm0.815)
GPharos dropped another 2 sens today to close at 81.5 sens with low volume. I have developed 3 possible scenarios for GPharos at this juncture.
Scenario 1 - GPharos starts to move up again from this level. It has formed sub-wave i-ii and and is forming mini-wave 1-2. Next up is mini wave 3, very bullish.
Scenario 2 - GPharos drops further to 75 sens or below to complete its sub-wave iv. Next up will be sub-wave v with target at 95 sens and that can be the end of wave (iii) to be followed by a higher degree wave (iv) pullback.
Scenario 3 - Gpharos is forming a running a-b-c corrective wave to complete sub-wave ii. Next up will be the sub-wave iii of wave (iii), should be very dynamic with very high volume.
Ben Gan of Blisswise.blogspot.com has put up a detailed writeup for this stock. In his opinion, GPharos should worth at least Rm2.44 based on his analysis.
Click 'From An Ugly Duckling to A Golden Swan' for his article.
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