Sunday, July 5, 2020

Dow (25,827) - Wave (ii) of C formation

Dow is about to complete the wave (ii) of its wave C of VIII. If Dow starts to move lower in the coming week and if it drops 1,000 points to go below the 25,000 level, then Dow is heading for 17,000 level to complete its super wave VIII.

But from its current level, if Dow can continue to move higher next week for another 1,000 point, then the unlikely mega wave (3) scenario can become a reality.

Gold (USD1,787 per oz)

Gold is approaching its 2011 September high of US$1,794 per ounce. The current run-up is likely to be the wave B of its wave (4).

Is there any correlation between the Dow and the gold price movement? From the following chart one can see that from the price movement of Dow and gold from 1970 to present, there is no obvious relationship between the two of them (the red line (Dow) and the yellow line (Gold))

Focus Dynamics (Rm1.05) Vs Fintec Global (Rm0.075)

Focus Dynamics added 5 sens on Friday to close at its record high of Rm1.05 with 11.6 million share traded. Fintec Global that holds 514.9 million shares of Focus gained 0.5 sens on Friday to close at Rm0.075 with 74.6 million shares traded. Even though in every one Fintec share there is 0.53 share of Focus that worth 55 sens but Fintec share price in the last few years has hardly move despite the share price of Focus has moved from 5 sens in May 2017 to last Friday high of Rm1.05.

A comparison of the price movement (appreciation) in the last 5 years shows a 2,424% difference in price appreciation between the two from May 2017 to July 2020.

For quarter ending 31/3/2020, Focus earning per share (EPS) is 0.04 sens and Net Assets/shares is 2 sens. For Fintec, EPS is 8.29 sens and Net Assets/share is 51 sens, contributed mainly by fair value gained of its investment holdings during the period.

Besides Focus, Fintec also holds shares in Vsolar, Netx, AT(S), DGB, Mlabs, Komark, Seacera and TNB.


Anonymous said...

Thank you, greatly appreciate your analysis.

Anonymous said...

How high can gold go and still be a possible wave B ?