Monday, November 23, 2015

EG Industries Bhd (Rm 0.865)

It is sub-wave v. EG added 4.5 sens with high volume on Monday.


If sub-wave v of wave (iii) were to have the same magnitude as sub-wave i, 87 sens is the end. But if it were to have the same magnitude as sub-wave iii, then a possible target is Rm 1.00.

Looking at longer term, EG is currently at sub-wave v of wave (iii) of major wave 3. There is a long journey in front until the completion of its major wave 5.

I am assuming my reading is correct and I hope I am correct. I am usually bullish biased and quite often get carried away like in the case of KSL on its way up until the day when it did not move along my bullish projection. Then I have to chop and get out.
 
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