Finally Gadang has a strong green candlestick with high volume to mark the starting of sub-wave ix. In my previous posting I might have projected sub-wave ix with a 20% gain to end at Rm 1.50, but frankly speaking the last wave is always unpredictable. It can fall short or it can overshoot. To me it can end anywhere between Rm 1.35 to Rm 1.50.
Insas Bhd (Rm 0.905)
Insas formed a bullish engulfing pattern today with quite good volume. If Insas can move up strongly in the next few days, very likely it is forming the minor wave iii of mini wave 3 of sub-wave iii of wave (iii) of major wave 3. But volume must be high, very high because it is the iii of 3 of iii of (iii) of 3. It would be better if it could open with a gap.
However, if its price movement is not dynamic and volume is not impressive, very likely it is forming the wave b of sub-wave iv of wave (iii).
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