ILB & PWorth

Integrated Logistics Bhd (Rm 0.875)

ILB instead of going for a 3 to 4 days consolidation to form its mini wave 3 and 4, it rebounded and moved higher today forming a lower degree wave i & ii. This formation is more bullish and this wave count can be confirmed if ILB continues to move higher tomorrow.

Priceworth International Bhd (Rm 0.185)

PWorth added 1 sen to close at 18.5 sens today. It remains too early to tell whether the 16 sens level is the turning point for this stock. Its long-term chart remains bearish technically.

If it can form 5 little waves in an up-trend channel as shown below in the next few days, there is a possibility that 16 sens is the bottom.

My two questions for PWorth remained the same as what I have asked in my 7th June's post :

"Is 16 sens the bottom ?" and
"Is PWorth a potential 'Goldmine' ?"

Looking at its high log production's figures, contributed by its newly acquired Beta Bumi, for March and April, if the coming May and June's figures are about the same or higher than that for March and April, I would expect PWorth to announce good positive earning for its 2nd quarter.

The prices of log, sawntimber and plywood continue to move higher in 2014. Unfortunately the Malaysian Timber Industry Board (MTIB) does not have a log index for Malaysian logs like the one shown below that I managed to get from runescape.wikia.com.

The above log index is made up of a weighted average of all of the current logs listed in the Market Watch. 

To know more about this log index and the type of logs covered by this index, click 'Log Index' for more information.

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