KLCI dropped 27 points (-1.5%) today to go below the crucial 1,768 level, its October low. With this development, even though the magnitude of wave iv rebound is of much bigger than that of its wave ii rebound and even though this wave iv also overlapped into wave i, the alternative wave count I can come out is as shown below.
I have changed my previous wave 4 from the earlier a-b-c-d-e formation to a-b-c formation.
A possible low for wave c of 4 is 1,686 level, the bottom of wave (iv) of 3.
KSL has announced that the ex-date for its 1 for 1 bonus issue is 17th December and the 5% dividend will be adjusted accordingly to 2.5% after the bonus issue.
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