After reaching its current level, it looks like Dow is continuing with its mini wave 3, 4 and 5.
FBMKLCI (1,772)
In tandem with the Dow, KLCI is going to form its mini wave 3, 4 and 5.
Insas Bhd (Rm 0.965)
Insas announced a quarterly earning of 9.99 sens a share on Wednesday with net assets at Rm 2.30 a share. Its share price went to as high as Rm 1.02 on Thursday morning. Insas recorded a volume of 39 millions share at the close on Thursday but it formed a reversal 'Long-legged Doji' signalling the completion of mini wave 3. Mini wave 4 started on Friday with 2.5 sens drop.
From its quarterly financial report, one will notice that 80% (Rm 57 millions) of its pre-tax profit of Rm 68 millions is from 'Other income - Note 2'
'Note 2' shows that Rm 12 millions is from 'Exchange gain', Rm 22 millions is from 'Fair Value Gain on financial assets' and another Rm 9 millions from disposal of shares in associate companies.
Its actual earning from its current business operation is rather miserable.
But from its long-term chart, Insas is on its mega wave (5).
Minimum target is a 'double-top' formation of Rm 1.30. Maximum target is Rm 1.80 by assuming another 200% gain for the mega wave (5).
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