Monday, August 11, 2014

Golden Pharos, KSL Holdings and Farms Best

Golden Pharos Bhd (Rm 0.995)

I expect GPharos to move lower to around 80 sens to complete the wave c of its wave (iv) as shown below.

In the last two trading sessions, it appeared to me that its price was being supported at its current level. If the support is strong enough to keep its price at its current level, another possible wave count is as shown below, where GPharos is forming its sub-wave iv. There will be one more surge to complete the sub-wave v.

KSL Holdings Bhd (Rm 3.08)

If I am right, the current pullback is the mini wave 4 correction.

Farms Best Bhd (Rm 0.695)

This is one of my most frustrating stocks. Its performance to date in term of price appreciation is the worst amongst the stocks that I have.

In January 2014, Farms Best has announced a merger proposal with SHH Malaysia that has the same type of poultry business like Farms Best but is operating in China. Click 'Proposed Merger' for details

If I don't bother about the proposal and assuming what is happening and what is going to happen will be reflected in the chart pattern, then I have to say Farms Best looks bullish at this moment.

Since September 2013, Farms Best has formed an overlapping waves (i), (ii), (iii), (iv) and (v) to complete its major wave 1. I personally termed this formation as 3 soldiers. The time to move into stocks with this type of chart formation is when it has completed its wave 2.

Below are some examples of charts with 3 soldiers formation.

Let's see whether Farms Best can be another classical case for 3 soldiers.


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