Priceworth International Bhd (Rm 0.31)

Pworth was actively traded on Monday and Tuesday with volume of 158 million and 160 million respectively. It added 4 sens on Monday but closed unchanged on Tuesday at 31 sens.

Since it has move higher than its wave (iii) high of 29 sens and the correction from mid October to early December is of a lower degree, I have revised my wave count for Pworth as shown below.

From Mid October to early December, Pworth was forming the sub-wave i and ii of its wave (v). Since December it has been forming the sub-wave iii of wave (v). At this moment it is at the tail-end of its mini wave 3 of sub-wave iii. 

I expect Pworth to have another surge on Wednesday to complete its small v of minor (v) of mini wave 3 if this mini wave 3 has only five minor waves. However if it has nine minor waves then Pworth will continue to move higher to complete this mini wave 3 at a higher level.

Remember the article appeared in 'The Edge' in June 2017

Pworth forecasts a Rm100 million net profit for FY18 with timber production at 9.3 million cu.m. That means the monthly timber production is about 775,000 cu.m a month when Pworth starts to extract timber from the 101,161 hectares of forest reserve in Trus Madi, Sabah.

The latest monthly timber production figure announced by Pworth was 18,475 cu.m. for the month of November 2017. Has Pworth started to extract timber from Trus Madi ?

I hope it is not 'Terus Mati'.

.