Sunday, October 18, 2009

KNM - Other alternative wave counts

On 14th October I put up a very bullish wave count for KNM as shown above where major wave (III) has started.

As usual there are many other alternative wave counts for any stock at any instance. Two other possible wave counts for KNM are as shown below.

The second possible wave count is as shown above, KNM has yet to complete its major wave (II). It is currently forming wave D of major wave (II).

The third possible count as shown above, KNM is forming the wave 3 of wave B of the major (II), still a long way to go before KNM can complete its major wave (II).

Besides these 3 possible counts, there are other alternatives but I consider them as unlikely at this moment. For the three alternatives as shown above, I would like to put aside the last alternative as the least likely. The current monitoring is based on first possibility and keep an eye on the second possibility.

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