Emico Holdings Bhd (Rm 0.41)

The star on Monday is Emico. It added 14.5 sens or 54.7% to move from 26.5 sens to 41 sens with a record volume of 83 million shares which is 86% of its total numbers of issued share of 96 millions. There must be a lot of speculative buy and sell (contra-players) within the same day.

From the 20-year chart, Emico is on its mega wave (3)

So far Emico has completed its mega wave (1)-(2), its major wave 1-2 and is forming its major wave 3 of (3).

Before the Monday's surge, my wave count for Emico was (i)-(ii)-(iii)-(iv) and I was expecting the (v) to end somewhere at 31 sens.

But with the fantastic performance on Monday, I feel that a more fitting count is as shown below.

It is highly possible that Monday's candlestick is the minor wave iii of mini wave 3 of sub-wave iii of wave (iii) of major wave 3 of mega wave (3). So it is the iii of 3 of iii of (iii) of 3 of (3), this can be why it can add on 54.7% with volume of 83 volume which represent 86% of its total issued shares of 96 millions.


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