Dow continues to set new historical highs. The main question now is whether Dow will punch through its upper channel line and move above 19,000 level.
FBMKLCI (1,629)
For KLCI the question remained the same, whether it has completed its major wave 4?
Whether it is still trying to complete its wave E of 4,
Or it has already completed its major wave 4 and is currently at the tail end of the wave e of its wave (ii)?
Felda Global Ventures Holding Bhd (Rm1.69)
FGV reported very poor result for its quarter ending 30th September 2016. Its price fell 20 sens today.
If one believed that its 2015 September's low of Rm 1.20 is the bottom, then a possible wave form is an overlapping i-ii-iii-iv-v formation and possibly ends with a double bottom reversal pattern.
But if 2015 September's low of Rm1.20 is not the bottom, then it is very bearish. Its previous high of Rm2.50 could be the wave B as shown below. Under this scenario, its wave C is likely to go below Rm1.00.
And if you think that 'they' will not allow FGV to collapse and 'they' will come out to push, then it becomes a (i)-(ii), i-ii formation.
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