Dow - Watchout for c of iv

Dow (17,798)

Dow remained on wave b of its sub-wave iv. The next c of iv may drop 800 points

FBMKLCI (1,682)

KLCI moved side way within a narrow range in the last 5 trading day. My reading for KLCI is the same as last week.

Insas Bhd (Rm 0.77)

Insas dropped 6.5 sens (7.7%) on Friday after it has reported losing 4.38 sens a share for its latest quarterly earning.

Looking at its last 5 quarterly earnings, erratic is the word.

The main contribution from item 'Other Income' was gain on disposal of quoted securities that can fluctuate between Rm 7 million to Rm 44 million.

For item 'Other Operating Expenses', main contributors are gain/loss on foreign exchange and fair value gain/loss of financial assets.

It is very difficult to project its next earning. I have to go back to the chart to guess its possible movement.

From the long-term 10-year chart, my guess is that Insas is on its major wave 5. It has completed its wave (i) of 5.

 

Insas is currently forming its wave (ii). It can either be a simple a-b-c as shown below or a-b-c-d-e. It can also be something else. Need to wait for it to reveal further.

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