Paragon Union - Impressive earning.

Dow (20,071)

If Dow continues to move side way and lower in the next  one to two months, it is forming its wave (vi).

However, following last Friday gain if Dow can continue to move higher, then the December high is not wave (v). It is more likely to be the sub wave i of wave (v). At the moment Dow is forming the mini wave 3 of iii of (v).

FBMKLCI (1,685)

KLCI continues with its wave (iii) formation.

Still a long way to go for KLCI to complete its major wave 5.

Paragon Union Bhd (Rm 0.46)

Paragon is a company with only 65 million shares. Its principal business is the manufacturing and sale of carpet for automobile and commercial sectors.

Its quarterly earning per share for the first 9 months are 2.80 sens, 2.33 sens and 2.78 sens. If it can earn another 2.50 sens for its 4th quarter, its annual earning can reach 10.41 sens a share. With NTA at 66 sens, Paragon at 46 sens a share is considered cheap.

My chart reading for Paragon is as shown above. At this moment, Paragon is forming the sub-wave v of its wave (iii) of major wave 3.


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