Berjaya Corporation Bhd - On its mega wave (3) ?

Since 2010 BJCorp (Rm0.36) has been moving in a down trend direction for 7 years from a high of around Rm1.70 to a low of around 31 sens in November 2016.

In my article dated 31 January 2017, I have shown the divergence in OBV and the possibility of the 31 sens low being the end of its mega wave (2). Click 'Huat-Ah' for that article.

After completing its wave (i) at 40.5 sens on 6 February 2017, BJCorp took 6 months to complete its wave (ii) at 32 sens on 15 August 2017. (Almost 100% retracement for its wave (ii)). The current up trend is very likely to be the wave (iii) of the new up trend.

Looking at the 30-minute interval chart, BJCorp is forming the mini wave 3 of its sub-wave iii currently.

There is still a long way to go for BJCorp if it has completed its mega wave (2) and is indeed forming its mega wave (3).

Technically mega wave (3) has to be much higher than the Rm1.70 level of the wave B of (2).

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