Dutaland (Rm 0.695) - Well behaved.

After resting for one day to complete its minor wave (ii), Duta moved up again to form its minor wave (iii) today. It closed at Rm 0.695 with volume of 15.5 million.

From the 30-minute interval chart, it is clear that Duta formed its wave b-c-d-e of minor wave (ii) yesterday. Today it formed the sub-wave i-ii and part of sub-wave iii. I expect it to complete its sub-wave iii and iv tomorrow.

From the daily 6-month chart, we can see that it is forming its sub-wave iii.

Next question is how high Duta can go. From the 10-year chart we can see that the mega wave (1) moved from 28 sens to 72 sens for a 157% gain. It then took 7 long years from July 2009 to December 2016 to complete its mega wave (2).

Mega wave (3) started in January 2017 from a low of 39.5 sens. If I used fibonacci ratio of 1.618, mega wave (3) will gain 254% to Rm 1.00.

Since mega wave (2) is a complex side way long duration wave, from the 'rule of alternation' mega wave (4) is expected to be a simple A-B-C wave with shorter duration but with bigger magnitude.

For mega wave (4) to have that bigger magnitude, mega wave wave (3) cannot end at Rm 1.00 which is only 28 sens above the mega wave (1). Very likely Duta will go higher than Rm 1.00.

The next fibonacci ratio is 2.618  that will give mega wave (3) a 411%  gain with a price of Rm1.64.

Hopefully from the subsequent wave development we can get some indication whether the mega wave (3) is going for fibonacci ratio of 2.618 or the next higher ratio of 3.618.

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