After hitting a high of Rm 4.90 at the end of December 2013, its stock price has been moving in a down trend direction for 5 years forming a possible A-B-C mega wave (2) corrective wave. It dropped to an intra-day low of 25.5 sens on 31 January 2019 to provide a possible end to the wave iii of its wave C of (2).
It is possible that it has started the wave iv with strong volumes since the beginning of February.
The mini wave 2 of iv appeared to provide the right shoulder of a possible inverted 'Head and Shoulder' reversal pattern. Its closing price at 34 sens today rested exactly on the neckline of the inverted 'Head and Shoulder'. If it can move above the neckline tomorrow and can continue to move higher, this wave iv has a possible target of 60 sens before it price starts to move down again to complete its last wave v of C of (2).
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