Pinehill Pacific Bhd (Rm 0.42) - jumped 33% in one day

Pinepac jumped 10.5 sens (+33.33%) today to close at 42 sens. I have a feeling that it is forming the wave b of its sub-wave ii.

First positive point is the OBV breakout.

However, nothing can be so sure in stock market for its own survival so that no matter how bullish or bearish the market condition can go, there is always buyers as well as sellers to complete all the transactions.

It is also possible for Pinpac to go up all the way and surpass its previous high of 69 sens to form its sub-wave iii.

Under normal circumstances the land sale is going to take months to complete and there is still lots of uncertainties in front unless there is a third party trying to accumulate Pinepac in the open market to more than 33% to trigger a General offer to take over Pinepac.

.