Short-term direction.

Dow Jones Industrial Average

Dow is at mini-wave iv. It needs a few more days to complete the correction

Singapore STI

STI is at sub-wave ii correction. It needs another week to complete the wave.

Hong Kong Hang Seng Index

Hang Seng is the same as Singapore STI, having its sub-wave ii correction

 

Bursa Malaysia FBMKLCI

Same as the Dow, it is forming the mini-wave 4.

It appears that next week is going to be another slow and boring week.

Interesting Stock

Bina Darulaman Bhd

In May, it managed to break the upper long-term resistance line. It went to an intra-day high of Rm 1.88 before pulling back to rest on top of the resistance line.

It is very likely that BDB has completed its sub-wave i &ii of wave 7 and is forming its sub-wave iii currently. The next mini-wave 3 of sub-wave iii's surge must be accompanied by high volume, failure which it is possible that the current wave up is the wave b of sub-wave ii, sub-wave iii is not here yet. Need to wait for the completion of wave c of sub-wave ii.

For 12 months ending 31st December 2012, its earning per share was 30.03 sens. Its 1st quarter earning ending 31st March was 9.58 sens, very impressive. Its current NTA per share is Rm3.52 which is 112% higher than its last Friday closing price of Rm 1.66. BDB is comparatively a small company with 72.8 million issued and paid up shares.

BDB is the only government-linked company in Kedah with principal activities in township development, construction, road works, granite quarry operation and golf resort operation and management.


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