USD/MYR continues with its wave iii of C formation.
From the daily chart it is forming the mini wave 7 of its wave iii. Still a long way to go if I am looking at Rm3.50 to US$1.00 as the end of the current wave iii.
Dow (25,502)
Dow plunged 460 points (-1.77%) on Friday on global growth fear. Weak economic data signaled that global economy's growth is slowing. More drops are needed to complete the wave c of ii of D before Dow goes for the next surge, the wave iii to complete its wave D at around 27,000 level.
The question is whether Dow will punch through its ceiling in its next surge? Technically very unlikely as wave C has only three waves but never try to rule out the impossible in stock market.
FBMKLCI (1,666)
KLCI's 21 points drop on Thursday has made me to question whether wave iv of C has ended? But if KLCI continues to drop next week, I have no choice but to accept the fact that wave v of C is in progress and it is difficult to explain why wave iv has five mini waves instead of three.
Inari Amertron Bhd (Rm 1.61)
Inari is either has completed its wave ii and is currently forming the wave iii of B
Or it is going to have another wave e down to complete its wave ii of B before starting its wave iii of B.
Insas Bhd (Rm 0.78)
I am not sure whether Insas has completed its wave ii,
Or it is still struggling with its wave ii.
Sapura Energy Bhd (Rm 0.345)
If Sapnrg can keep its share price above the 'neckline' of its inverted 'head & shoulder' next week and is able to move higher after retesting the neckline, then this can be a classical case for 'head & shoulder'.
Sinmah Capital Bhd (Rm 0.215)
If SMCap can continue to move higher next week, it will confirm the very bullish wave i-ii, 1-2 formation. The uptrend that started on Friday with 1.5 sens gain will be the starting of wave 3 of iii.
But if SMCap starts to move lower in the next two weeks with five mini down waves i-ii-iii-iv-v, then it is forming an expanding triangle a-b-c wave ii.
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