Very likely Dow is heading for 22,600 to complete its major wave 8, the 15% correction.
FBMKLCI (1,819)
I have adjusted my wave count for KLCI as shown below because if Dow is heading for a major correction, KLCI should move down in tandem with Dow, it is more likely that wave C is in progress.
EG Industries Bhd (Rm0.515)
EG's share price plunged close to 20% in the last 6 trading sessions with a long wave iii of C. Possible support is at the 43.5 sens level, the low of wave A and C of the major wave 4.
Looking at its 20-year chart, I noticed that the mega wave (2) is possibly forming an 'inverted head ans shoulders' pattern. If it finally turns out to be this pattern, then this is a bullish long term chart. Its mega wave (3) might take 4 to 5 years to complete with minimum target at Rm 2.60.
Aemulus Holdings Bhd (Rm 0.53)
With Dow dropping more than 1000 points twice within a week and with KLCI plunged in tandem, many stocks have gone below their respective lower support level, EG is one of them and Aemulus is another one with a long wave c. Possible support is at 45 sens level, another 15% to go. I am expecting a wave iv rebound before the final drop.
.
No comments:
Post a Comment