Is this a rumours ?????
My previous wave count for Karambunai was wave (i) - (ii), sub-wave i,ii,iii,iv as shown above. At this stage sub-wave iv has completed its a-b-c-d-e form by last Friday. This wave count remains acceptable if its stock price can start to move up strongly with high volume on Monday or Tuesday, the latest. Failure which, if its stock price continue to drift side-way next week, it is more likely that its wave pattern may take the following form.
The wave count will take a more bullish form of waves (i) - (ii) and sub-waves i - ii as shown above.
If the side way price movement continue into a much longer period, its pattern may develop into a waves (i), (ii), (iii) and (iv) wave form as shown below.
This is a good example to demonstrate how the wave forms of stocks or indices such as Dow can change with further price development and with time. The final form is the resultant of a mixture of news and human behaviours/reactions to the news.
There may be a few possible wave counts for Karambunai, I personally feel that upwards price movement is not over yet based on its double bottoms formation as shown in the 10-year long-term chart, assuming that the stock markets especially Dow can hold up long enough for Karambunai's double bottoms to complete its form. Chart pattern can fail with changes to the overall market condition.
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