Mulpha International - Update 1

Refer to my April 26 post, the long-term wave count remains the same as shown below. In 2006 after UOB Kay Hian published its reports on South Johor Economic Region that valued Mulpha at a minimum price of Rm2.68 based on its 800 acres of land near Johor Bahru, Mulpha moved to Rm 2.10 by April 2007. Due to the financial crisis, it moved to a low of 27 sen by end of March 2009. A good buy for long term at current price of about 50 sen

Refer to the chart below, wave count since March 2009 bottom is still the same. Since then the wave form has completed waves 3-4-5. There are two possibilities at this point. It is either going for 9 waves with wave 6 completed and is currently in sub-waves 'i' and 'ii' of wave 7 as shown below or with wave 5 as the end of higher degree wave (I) followed by sub-waves a-b-c to form wave (II). It has completed sub-wave a (at point 6 location) and is forming i-ii-iii of sub-wave b. Under this a-b-c scenario, the b can go to about 55 sen at best before moving down to form c at around 42 or 43 sen.