Pan Malaysia Corporation Bhd (Rm 0.295)

In November 2015, PMCorp has proposed to undertake a capital reduction and capital distribution of 8 sens for each ordinary share. Since then its share price has started to move higher from 20 sen level to its current level of 29.5 sen.

From its 10-year chart, it is rather clear that at this moment PMCorp is in the process of forming its mega wave (5). So far it has completed wave (i) and (ii) of (5).

From its 6-month chart, PMCorp has completed the sub-waves i-ii-iii-iv. The surge from 24 sen to 31 sen in early February is likely to be its mini-wave 1. Mini-wave 2 should not drag for too long or else it would become a failure v and that would mark the end of its wave (iii). A move above 31 sen will pave the way for its mini waves 3-4-5 of v.

.

.