Dow - Refused to end its sub-wave iii

Dow (17,687)

Dow continues to set its 6th record high in November. It closed at 17,687 on Tuesday to start its mini wave 7 of its sub-wave iii of wave (xiii).

FBMKLCI (1,818)

KLCI gained 12 points to closed at 1,818 on Tuesday. Is this the first candlestick of wave 3 of d ? We will know on Wednesday.

If Dow can repeat its last few months performance until mid 2015, KLCI will have time to complete its major wave 4 and 5.

Jasa Kita Bhd (Rm 0.235)

My friend has asked me to have a look at Jasa Kita, a company with about 450 million paid-up shares, that manufacture and sell electric motors, power tools and other Engineering and Industrial equipments. The company also provides logostics related services.

Two weeks ago it announced its 2nd quarter earning of only 0.43 sen a share. Its net assets per share is 20 sens. Annualised PE is about 14.

Its started to move side-way since 1998 to form its major A-B-C-D-E mega wave 2.

At a glance, it appeared that it has just completed its wave D and is about to move all the way to 10 sens to form the wave E of its mega wave (2).

 

However, a closer study shows that there is another possibility that it may not have completed its wave D yet and is currently forming the wave (v) of its wave 3 of D that has a possible high of 45 sens if D can reach the upper channel line.

From the 6-Month chart, it has completed its mini wave 1, 2, 3 and 4. It formed a green engulfing candlestick on Tuesday, is this the starting of its mini wave 5 of its sub-wave i ? My guess is as good as yours.

I wish my friend good luck if he wanted to trade in this stock. As usual my interpretation can be wrong, so he has to trade at his own risk.


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