Mui Moved sideways in the last few days. Hopefully that is the minor wave ii and hopefully it can move higher next week to start its minor wave iii.
In a less bullish reading, the current uptrend is only a wave B.
A more bullish reading, Mui has been forming its mega wave (3) since 2017and now it has moved on to its major wave 3 which is expected to be more dynamic.
Focus Dynamics Group Bhd (Rm0.445)
Focus confirmed the formation of its wave (iii) by breaking out of its sideways channel and by staying above its upper trend line
The current uptrend is the wave (iii) of its major wave 3 of its mega wave (3). Wave (iii) of 3 of (3) is expected to be very dynamic.
Focus is technically strong but fundamentally lousy. Its last four quarterly earnings per share were -0.11, +0.03, +0.03 and 0.00 for the latest quarter. Its current net assets per share is only 2 sens.
Fintec Global Bhd (Rm0.055)
I find it hard to understand (fundamentally) why people continued to sell Fintec at 5.5 sens. In the last two trading days another 7.2 million shares were sold to the buyers at 5.5 sens. But technically Fintec has to behave in that way in order to complete the wave (v) of its wave C. In fact to has to drop at least to its previous low of 4 sens to completed its wave (v), unless it is going to be a failure wave (v) then the C can end either at 5.5 sens, 5 sens or 4.5 sens.
At 5.5 sens, the total market value of Fintec (689 million shares) is Rm37.9 million. From its latest quarterly report, it has cash of Rm20.2 million (Zero borrowing). Its holding in Focus is 507.9 million shares that has a market value of Rm226.02 million with Focus at 44.5 sens a share.
I guess those that were selling Fintec at 5.5 sens were thinking that Focus share price at 44.5 sens is non-sustainable and very soon it is going to plunge to below 10 sens a share. But my technical reading for Focus is very bullish, it is currently on wave (iii) of 3 of (3). But of course I can be wrong too.
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