ILB & PWorth

Integrated Logistics Bhd (Rm 0.875)

ILB instead of going for a 3 to 4 days consolidation to form its mini wave 3 and 4, it rebounded and moved higher today forming a lower degree wave i & ii. This formation is more bullish and this wave count can be confirmed if ILB continues to move higher tomorrow.

Priceworth International Bhd (Rm 0.185)

PWorth added 1 sen to close at 18.5 sens today. It remains too early to tell whether the 16 sens level is the turning point for this stock. Its long-term chart remains bearish technically.

If it can form 5 little waves in an up-trend channel as shown below in the next few days, there is a possibility that 16 sens is the bottom.

My two questions for PWorth remained the same as what I have asked in my 7th June's post :

"Is 16 sens the bottom ?" and
"Is PWorth a potential 'Goldmine' ?"

Looking at its high log production's figures, contributed by its newly acquired Beta Bumi, for March and April, if the coming May and June's figures are about the same or higher than that for March and April, I would expect PWorth to announce good positive earning for its 2nd quarter.

The prices of log, sawntimber and plywood continue to move higher in 2014. Unfortunately the Malaysian Timber Industry Board (MTIB) does not have a log index for Malaysian logs like the one shown below that I managed to get from runescape.wikia.com.

The above log index is made up of a weighted average of all of the current logs listed in the Market Watch. 

To know more about this log index and the type of logs covered by this index, click 'Log Index' for more information.

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Olympia Industries Bhd (Rm0.185)

A penny stock with subsidiaries involved in property investment/development, stockbroking, 4-D gaming and travel & tours operation.

Olympia added 1 sen today to end the day at 18.5 sens with high volume. It is possible that it has found its bottom at 11.5 sens by end of December 2013. The strong OBV indicates that this stock has been under accumulation on its way down since 2011.

 

During the first 5 months of 2014, it has completed wave (i) - (ii) with very bullish overlapping  sub-waves i to v.

Olympia started its wave (iii) with a bang with extremely high volume in May after it has announced good earning of 0.8 sen a share for its 3rd quarter ending March 2014. Its net assets is 33 sens per stock. Since  then it has completed its sub-wave i - ii and mini wave 1 - 2.

It is very likely that mini wave 3 of sub-wave iii of wave (iii) started today with high volume of 24.9 millions share traded. Wave 3 of iii of (iii) is expected to be very dynamic with high volume. I hope I am right.


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Integrated Logistics Bhd (ILB)

ILB opened with a gap and gained 7 sens (+8.7%) with high volume today. It ended the day at 87 sens.

It is forming the mini-wave 3 of its sub-wave vii of wave (iii).

Its 2014 first quarterly earning is bad, it lost 1.40 sens a share. Net assets per share is Rm1.92. Its balance sheet is very solid.

It has Rm175 million cash in hand after it sold its subsidiaries in China for Rm246 millions in 2013.

After deducting its borrowing of about Rm80 millions, its cash per share is 58 sens. This is a solid stock but it has to improve its earning.

Bonescythe.blogspot.com has a detail writeup for ILB. Click 'ILB-Bonescythe' for the article.



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Dow - No major correction until wave (xiii) is completed.

Dow started to pullback last week. It is either forming its sub-wave ii of wave (xiii) currently as shown below,

Or Dow is forming its mini-wave 4 of sub-wave iii of wave (xi).

Whether it is option 1 or option 2, the overall trend is up until wave (xiii) is completed.



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Golden Pharos - It is mini wave 3

Golden Pharos Bhd (Rm 0.955)

GPharos added 14 sens (+17%) to close at 95.5 sens today confirming the mini-wave 3 option with high volume. Today's candlestick is the first candlestick of mini-wave 3, still a long way to go, but watch out for the unexpected. In stock market, nothing can be 100% sure.

Pan Malaysia Corporation Bhd (Rm 0.24)

PMCorp added 1.5 sen (+6.6%) today to close at 24 sens. Wave (v) in progress.

If PMCorp continues to move higher tomorrow, then it is likely that it has just completed its mini-wave 1-2 of sub-wave i of wave (v). Mini-wave 3 has started.

However, if PMCorp fails to move higher and starts to move side way, then it is forming a higher degree sub-wave ii of wave (v). Sub-wave iii run-up has to wait for a while.

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Golden Pharos Bhd - A Golden Swan (Ben Gan)

Golden Pharos Bhd (Rm0.815)

GPharos dropped another 2 sens today to close at 81.5 sens with low volume. I have developed 3 possible scenarios for GPharos at this juncture.

Scenario 1 - GPharos starts to move up again from this level. It has formed sub-wave i-ii and and is forming mini-wave 1-2. Next up is mini wave 3, very bullish.

Scenario 2 - GPharos drops further to 75 sens or below to complete its sub-wave iv. Next up will be sub-wave v with target at 95 sens and that can be the end of wave (iii) to be followed by a higher degree wave (iv) pullback.

Scenario 3 - Gpharos is forming a running a-b-c corrective wave to complete sub-wave ii. Next up will be the sub-wave iii of wave (iii), should be very dynamic with very high volume.

Ben Gan of Blisswise.blogspot.com has put up a detailed writeup for this stock. In his opinion, GPharos should worth at least Rm2.44 based on his analysis.

Click 'From An Ugly Duckling to A Golden Swan' for his article.


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FACB Industries Incorporated - Update

Facb announced  a poor 1st quarter earning, losing 0.47 sen a share. Facb made 3.24 sens a share in its previous quarter. Its latest net assets per share is Rm 2.51. However its balance sheet remains healthy.

 It has cash of Rm 148.8 million and zero borrowing.

Facb has 84 million shares, thus cash per share is Rm 1.77. It ended today's trading at Rm 1.37, very cheap but its earning is lousy.

There are two possible wave counts for Facb. First possibility is wave (ii) formation.

It will need another month or two to complete the wave b & c of its wave (ii).

 

The second possibility is more bullish, it is forming its sub-wave ii at this moment and it may have ended.

If Facb can move up strongly with high volume from this level, it is possible that the next surge is the sub-wave iii with a minimum target at Rm1.80.

So, if it can surge within this or next week, it is possibility 2 :). Failure which, it is possibility 1, half dead for the next 1 to 2 months :(

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