My reading for Dow remained the same. Dow is either forming the wave e of (xiv). (Very likely it is an over-shot e)
Or it is forming the sub-wave iii. Currently it is forming the mini wave 3 of sub-wave iii.
FBMKLCI (1,834)
KLCI continues with the mini wave 5 of its sub-wave i. It is still a long way to go to complete its major wave 5 by early 2017.
RGB International Bhd (Rm 0.165)
Over the weekend, one of my friend asked me to have a look at RGB, previously known as Dreamgate Corporation Bhd.
RGB is a well known premier supplier of gaming machines in Asia. Its operation covers the manufacturing and sale of electronic gaming machines and equipments, Machines concession, technical support and management, equity investment and management of boutique casino, hotels and clubs with gaming licenses. RGB has over 20 years of experience with operation covering Malaysia, Singapore, Cambodia, Lao, Vietnam, Macau, Philippines and Japan.
Its latest quarter earning per share is 0.25 sen with 2014 earning totaled 1.59 sens a share. Net assets per share is only 9 sens with net borrowing of about Rm 9 millions. Fundamentally I won't say is strong but technically its chart looked good at this moment.
If my reading is correct, at this moment, it is at its wave (v) of major wave 3. In September 2014 there was a possibility that the wave (v) of 3 has been completed. But with the side way movement in the last six months, it appeared to me that its September high is only the sub-wave i of its wave (v).
By December 2014 it has completed its sub-wave ii.
It is possible that it is at the beginning of the mini wave 3 of its sub-wave iii especially if it can go above the 18 sens level within the next few days. I hope the strong candlestick with high volume on Thursday is not a one day affair.
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