Dow - Going South?

Dow (26,770)

Dow dropped 255 points (-0.95%) on Friday. Is this the starting of mini wave 3 of iii of E of its major wave 8?

FBMKLCI (1,571)

KLCI has a small rebound in the last 5 trading days to form the mini wave 4 of v of (iii). The next journey down will be the mini wave 5 of v of (iii).

Insas Bhd (Rm 0.825)

Insas has started to form the mini wave 3 of its sub-wave iii in the last few trading days.

Fintec Global Bhd (Rm 0.045)

Fintec is a technology incubation and investment holding company. It operates in four business segments: technology incubation, biofuel products, information technology and biotechnology products.

Fintec has invested in 6 listed companies: Focus Dynamics Group Bhd 24.51% (500 million shares), Vsolar Group Bhd 15.67% (60 million shares), AT Systematization Bhd 15.06% (70 million shares), Netx Holdings Bhd 11.16% (264 million shares), DGB Asia Bhd 7.37% (55.7 million shares) and Mlab Systems Bhd 11.2% (75 million shares).

At last Friday closing price for these 6 companies, the market price for Fintec's holding of these companies is worth a total of Rm214.90 million. If this figure is divided by Fintec 635 million shares, that is 34 sens per each Fintec share.

For quarter ending 30/6/2019, earning per share is 4 sens ( due to appreciation of investment holdings), net assets is 28 sens, net cash per share is 3.7 sens. Fintec closing price on Friday was 4.5 sens only. The only problem with Fintec is its operating profit was always in the red.

Based on the closing price of its holdings on 30/9/2019, I expect Fintec to announce an earning of around 12 sens a share with net assets at 39 sens a share. Net cash per share is expected to remain at 3.7 sens. Will Fintec's share price remain at 4.5 sens when it announces its next quarterly earning in November?

My reading for Fintec is as shown below, it is about to complete its sub-wave v of (iii). Next rebound will be the wave (iv) of C of (2).     

This is a greatly undervalued stocks with operating profit always in the red. At last Friday closing price of 4.5 sens, if I deduct the 3.7 sens of cash per share, I am paying only 0.8 sens for the rest of its investment holdings that is worth 34 sens a share plus its other businesses and assets.

But there were investors that kept on selling Fintec at 4.5 sens. Why?

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