Tuesday, December 22, 2015

Farms Best Bhd (Rm 0.72)

Farms Best added 11 sens (+18%) on Tuesday with 1.6 millions share changing hands. Since 2009, Farms Best has been moving side way forming a complex ABCDE-X-ABC corrective wave, its mega wave (2). Hopefully the low in August 2015 marked the end of mega wave (2).

Its candlestick today is significant in the sense that it can be the wave (v) of Farms Best and usually a 5-wave formation indicates a new up trend cycle.

If it is indeed a new up-trend in the making, the next major wave 2 correction provides a last chance for accumulation before the dynamic major wave 3 starts.

Dow (17,417)

Dow gained another 165 points (+0.96%) on Tuesday. There is a possibility that wave (iv) has ended and wave (v) has started.


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