weekly Update

USD/MYR (4.0915)

Malaysia ringgit continues to form the wave iii of its wave C. Hopefully it can reach Rm 3.50 to US$1.00 by early next year.

From its weekly candlestick chart, USD/MYR completed its wave ii by end of November 2018 and since then it has completed five minor down-wave i-ii-iii-iv-v to form its mini wave 1. It is likely to take another 2 to 3 week to complete the mini wave 2 before starting its mini wave 3 that is likely to see the Ringgit to go to below Rm4.00 to 1USD.

Dow (25,848)

Dow is either on its way to complete its mini wave 7 and its wave D at 27,000 level.

Or it is at its wave ii consolidation at this moment before another surge, wave iii to complete its wave D at 27,000 level.

Another possibility is the bullish option that I mentioned previously as unlikely - Dow punches through its ceiling and continues to set new record highs all the way up north. In stock the unlikely do happen once a while.

FBMKLCI (1,680)

KLCI continues with its wave iv formation. It will start its wave v of C when Dow is forming its wave E of 8.

Inari Amertron Bhd (Rm 1.51)

Inari is about to complete its wave c of ii. The next up will be the wave iii of B.

Insas Bhd (Rm 0.775)

The next up-leg for Insas can either be the wave iii,

or it is the wave b of ii.

Sapura Energy Bhd (Rm 0.365)

Sapnrg managed to punched through the neckline of its inverted 'Head & Shoulder' last week, technically it is forming its wave iv with a target price of 60 sens.

Bumi Armada Bhd (Rm 0.19)

It is possible that Armada is forming its wave iii at the moment. Hopefully it can go above its previously high of 25 sens next week.

Pinehill Pacific Bhd (Rm 0.335)

If Pinepac can punch through its upper trend line and can move higher than its wave i's high of 54 sens, then it has started its wave iii.

Failure which, it will continue to move side way forming its wave ii with another X-a-b-c kind of corrective waves.

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