Friday, December 18, 2009

1) Hang Seng. 2) Inch Kenneth Kajang Rubber PLC


1) Hang Seng

Hang Seng dropped another 171 point at the close today, it has dropped a total of 910 points (4.1%) in the last four sessions from Monday's height of 22,085 to 21,175 by today and resting closed to the Head & Shoulders neckline. Once the reversal pattern is formed, Hang Seng will have to drop to at least 19,300.

2) Inch Kenneth Kajang Rubber PLC


Based on the 10-Year long-term chart, Inch Kenneth has completed its mega wave (I) and (II). Its OBV indicates very strong accumulation of stock. At its March's low, Inch Kenneth has formed a double Bottom reversal pattern.


Since setting a low in March, it has started its major wave (III), so far it has completed wave 1 and 2 and sub-wave (i). Is the recent low of 43.5 sen the end of sub-wave (ii) ? The next sub-wave (iii) of wave 3 of (III) is expected to be very very powerful and juicy.

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