RCE Capital Bhd

RCE Capital's OBV has set a new height at the close of yesterday trading session. It is currently forming its 7th wave. Sub-waves i and ii have been completed, sub-wave iii has just started. Wave 7 can be quite dynamic especially the sub-wave iii of wave 7.

Inch Kenneth, Scomi, MRCB, Duta Land

Inch Kenneth remains in wave 3, its OBV is particularly strong. At the same price level as January 2008 the OBV accumulated is 250 million shares which is close to 60% of its total number of shares. No sign of distribution so far.

Scomi Group's OBV has started to set new height whereas its stock price remained within the down trend channel, a very strong sign of accumulation. As volume precedes price, with the OBV breakout, the price will have to breakout and run. It has completed its major wave (II) A-B-C and the sub-wave i of its wave (III). At the begining of (III), this is an excellent stock with limited downside risk. Minimum target for wave (III) is RM 1.00. If wave (III) is the extended wave then the potential minimum target is Rm. 1.30. can easily double the money. Watch out when it breaks 50 sen level.

Somebody asked me to have a look at Scomi Marine. It has a rare expanding triangles. An initially strong OBV has turned into a normal OBV at the moment. Just compare its OBV with that of Scomi Group, one can readily see the difference. It has started its wave (III) with minimum target at 95 sen.

MRCB is an excellent stock on the run with both its OBV and price breakout. If magnitude of wave (III) is same as wave (I), Rm 2.20 is the target. If wave (III) is an extended wave then 2.75 becomes the target.

Duta Land shows strong OBV accumulation, its OBV and its price moved in opposite direction as shown. Its OBV is on the verge of breaking out possibly together with a price breakout from its downward channel. For those who have bought Duta Land in June and have been frustrated over this stock, I think good time is around the corner. Minimum target for wave (III) is 90 sen. Its Warrants at 20 sen is a good bet to get more than a double.

Things may look promising at the moment, but chart-form can change, OBV can change, always look out for the unexpected.

Inch Kenneth and Green Packet

Inch Kenneth gained close to 20% to end the day at 63.5 sen, the surge was supported by a very high volume of 72 millions shares, a typical wave 3 of (III).


Taking March 2009's low of 16 sen as the bottom, its wave count is as shown above. Currently it is at wave 3, the next question is how high this wave 3 can go. If wave 3's magnitude is same as wave 1, 62.5 sen is the figure. The closing price of 63.5 has exceeded that. If Inch Kenneth continues to move up tomorrow, the next target is 1.618X18.5 +44 = 74 sen. If it continues further the next higher target is 2.618X18.5 + 44 = 92.5 sen.

Green Packet is on course to complete its wave 5 of major wave (III). The only question is whether this major wave (III) has 5 waves or 9 waves.

How to make oneself happy

We owe the peacefulness that we have to the peace loving Christians that do not retaliate or resort to

This

OR THIS

OR THIS

THANK YOU, MAY GOD BLESS ALL THE PEACE LOVERS

NYSE - Strong OVB

In the last few sessions until Friday (January 8), there were tug-of -war between sellers and buyers with Dow managed to stay above the short-term upper resistance line.

Dow remains somewhere within the wave 7 with a side way but with upside bias movement. Candlesticks might indicate a tug-of war scenario but OBV is telling a different story.

OBV indicates strong accumulation of stocks since early December 2009. I would like to interpret this as a slow accumulation of stocks without aggressive chasing of stocks. If the saying that 'volume precedes price movement' is true than it is a matter of time before Dow starts to move up strongly.

When Dow starts to run, Hong Kong, Singapore and European markets are expected to follow except Bursa Malaysia where the issue of 'God' has turned from bad to worst. Those with the christian faith, looking at the burnt down church, may decide to sell and get out and put their money in countries where the God's followers do not resort to aggression in the name of 'God'.

IGP - Tighten security at premises

Inspector General of Police advised the churches to raise their security by hiring guards because there are not enough policemen to guard every one of them. Looks like the churches have no choice but to join all the rest of the gated and guarded housing community in order to be safe in this country

A Sad Day

Three Churches, Metro Tabernacle Church in Desa Melawati as shown above, Life Chapel Church in Section 17 PJ and Assumption Church Jalan Templer PJ were targets of arsonists early this morning.

PM condemned the arson attacks and asked the public not to start pointing fingers.

He is quite right also, police investigation may show that the above happenings might have nothing to do with the recent hot issues of A&MU. A monkey playing with the priest's spectacle under the moonlight could cause a fire too.