Sunday, April 27, 2014

Dow - Wave (xii) formation ?


DOW

The 500 points rebound over 6 trading sessions a week ago has thrown out my wave c with 5 mini-waves and instead I have a wave c with 3 mini-waves. It appeared that Dow is heading for an expanding 3-3-3-3-3, a-b-c-d-e wave (xii) formation as shown below.


FBMKLCI


My wave count for FBMKLCI remained the same, sub-wave iii in progress.


FACB Industries Incorporated (Rm1.43)

My wave count for FACB is as shown below.


It is forming the mini wave 5 of its wave (vii).


FACB gained 12 sens (9%) with very high volume on Friday forming the mini wave 5.


It has a very healthy balance sheet with Rm 147 million cash.


 It has zero borrowing.


Since FACB has only 84 millions shares, that gives the stock a cash backing of Rm 1.75 per share before taking into consideration its other business operations in Malaysia, China and Hong Kong.



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