First trading day after the Chinese New Year continued to be dominated by penny stocks.
ASB is forming the mini wave v of its sub-wave v of its wave 3. Since wave 2 is a side way correction that stretches almost 12 months, wave 4 is expected to be a sharp correction with short duration.
Olympia is on course to complete its wave 5 of its major wave (III). It is possible that the sub-wave v of wave 5 is completed as shown below.
Karambunai put on 4 sens (18%) to close at 26.5 sen, reaching the neckline of its double bottoms formation.
The candlestick formed is very dynamic supported by very high volume of 179 million shares. It is forming its mini wave iii of its sub-wave iii of its wave 3 of major wave (3), still a long way to go provided Dow can continue to drag on, moving within the up-trend channel.
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