Dow
Dow dropped a total of 172 points (1%) on Monday and Tuesday. On Wednesday morning, Dow opened lower and reached a low of 15846 before rebounded to positive territory within the first hour.
It is possible that mini wave 4 has been completed and the rebound marked the starting of mini-wave 5 that could reach 16,400 level to complete the sub-wave iii within December.
FBMKLCI
FBMKLCI dropped 2 points to 1821 at the close of today's trading session.
I expect the index to pick up momentum very soon. Sub-wave 3 has to be more dynamic than sub-wave 1.
Mega First Corporation Bhd (MFCB) Rm 2.08
MFCB put on 10 sen today to close at Rm2.08. It is about to break its Rm2.10 resistance. MFCB is a diversified company with businesses covering power generation, property development and limestone quarrying.
It has just announced its third quarter earning at 10.36 sen/share. Its cumulative earning for the first 3 quarters is 27.79 sen/share. NTA is Rm3.05/share. It has Rm 147 million cash in hand and its bank borrowing is Rm 53 million. MFCB has been buying back its own share for more than 5 years since early 2007 when its stock price was around Rm1.40.
Is MFCB about to break out and run ? Wave iii of 3 has to be dynamic with high volume.
.
No comments:
Post a Comment