Some Malaysian Stocks

In the last two days, 3 of my friends called up to ask for my wave reading for Axiata, Genting Malaysia (the former Resorts world), HPI, KNM and Measat. My reading based on Elliott wave for them are as shown below.


Axiata's chart is very straight forward as shown above. It has completed major wave (I) & (II) and wave 1&2 of the major (III). Wave 3 has just started with last Friday's surge as shown below.

Wave 3 has a minimum target of Rm3.60.

Genting Malaysia as shown above is about to start its sub-wave v of its wave 5 which can end at Rm3.10 or Rm 3.20. Not that exciting.


HPI has no mass participation until lately. Since Elliott wave principles were developed based on mass actions and reactions to stock tradings. No wave count for HPI.


KNM has completed its major wave (I) without any doubt. The question is whether it has completed its major wave (II) as shown in "Case A" above or it is forming the corrective a-b-c waves of the major (II) as shown in "Case B" above. A closer look at its 6-month candlestick chart as shown below indicates that it is more likely to be "Case A".

KNM has completed major wave (I) & (II) and wave 1 &2 of major wave (III). wave 2 of (III) consists of a "3-waves a", a "3-waves b" and a "5-waves c".

Measat as shown above is about to start its sub-wave v of wave 5 of its major wave (III). Another 50 sen in front for sub-wave v at Rm2.50.