With oil prices setting new weekly low, my previous wave count can no longer hold and has been revised as shown.
Mini wave 5 of sub-wave v is in progress.
Dow (17,245)
Sub-wave iii is completed and sub-wave iv is in progress. But be very careful if iv goes below the top of sub-wave i, then the current correction can no longer be iv.
FBMKLCI (1,658)
KLCI is either forming wave c of iv,
Or it is forming the c of ii.
LCTH Corporation Bhd (Rm0.815)
Wave (v) of major wave 3 is about to end.
Felda Global Ventures Holding Bhd (Rm1.82)
If Rm1.82 support can hold, wave (v) of major wave 3 rebound may start anytime from now.
However, if Rm1.82 level cannot hold, it is more likely that FGV is forming the wave a of mega wave (2).
Inari Amertron Bhd (Rm3.97)
Inari announced an improved quarterly earning of 6.24 sens a share, a special dividend of 0.50 sen a share, a first interim dividend of 2.30 sens a share and a 1 for 4 bonus issue. It added 15 sens on Friday.
If Inari is not able to break its upper resistance line, mega wave (1) is likely to have ended.
However if Inari can punch through its upper resistance line, then the current up-trend is the wave (iii) of its major wave 3.
Insas Bhd (Rm0.865)
I hope the current up-trend is its major wave 5.
EG Industries Bhd (Rm0.80)
EG is at the tail-end of its major wave 3. The heavy selling on Wednesday and Thursday upon the listing of new shares (right-issue) on Wednesday sent the OBV into bearish territory, sign of distribution.
EG is forming its wave (iv) currently if I am right.
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