Dow added another 138 point on Thursday and pulled further away from the upper channel line. It appeared that my previous assumption that Dow is forming a a-b-c-d-e sub-wave ii is wrong. Its sub-wave iii has started.
FBMKLCI (1,692)
If Dow is not forming a-b-c-d-e, there is a possibility that KLCI may not form a-b-c-d-e too.
Then KLCI may move in tandem with Dow by breaking its upper channel line in the next few days and has its sub-wave iii.
Perisai Petroleum Technologi (Rm 0.365)
I found One petroleum stock rather interesting. Perisai has an OBV break out while its share price is almost at the bottom.
Is it forming a (i)-(ii), i-ii wave?
For its quarter ending 30th June, earning per share is 0.13 sen. Net assets per share is Rm 1.07. Its borrowing is rather heavy at about Rm 1.2 billion.
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