Gadang is on the last journey of its major wave 3, assuming this major wave 3 has only five waves, wave (i)-(ii)-(iii)-(iv)-(v).
Since wave (i) and wave (iii) gained 120% and 72% respectively, by assuming wave (v) to have the same magnitude (%) as wave (iii) of 72%, my target for wave (v) is Rm 1.54, PROVIDE wave (v) doesn't fail and it can complete its whole journey.
For major wave 3 to end at Rm1.54, from its starting price of Rm 0.46, the gain is 235% which is smaller than the magnitude of major wave 1 of 280%. There is this possibility that major wave 3 might consist of nine waves instead of five. But it is better not to talk about this (too bullish) until there is sign that major wave 3 is heading for nine waves.
If I assumed major wave 5 has the same magnitude as major wave 3 (235% gain), major wave 5 can end at Rm 3.00.
From the 6-month chart, we can see that Gadang is forming its sub-wave viii that has another 2 to 3 candlesticks to go. If it is well behaved, and can hold above Rm 1.24, sub-wave ix should begin latest by Friday. If sub-wave ix has about the same magnitude (20% gain) as sub-wave vii (provided no failure), the target is Rm 1.50, which is quite close to my earlier projection of Rm 1.54.
What happen if Gadang continues to go lower and lower this week and next week and week after next? In stock, anything is possible. This can happen.
It only means Gadang has a failure wave (v) with sub-wave ix missing, and major wave 3 has already ended, forming a double-top reversal pattern.
So, run for your life if sub-wave ix is missing.
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