Felda Gobal Ventures (Rm 1.77)

FGV was unable to hold above Rm1.82 level on Monday. It dropped 5 sens to close at Rm1.77.

With this drop, it is confirmed that FGV is forming the wave a of its wave (2).

If wave b gives it a 'Head & Shoulders' formation, then the subsequent wave c may bring it to Rm1.40 or lower.

Dow (17,482)

Wave b of iv has started.

Global equities were boosted on Monday when it was reported that Japanese third quarter GDP contracted by 0.2% quarter-over-quarter. The markets expect more monetary support from the Bank of Japan.

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Weekend Update

Crude Oil (WTI) (US$40.74)

With oil prices setting new weekly low, my previous wave count can no longer hold and has been revised as shown.

Mini wave 5 of sub-wave v is in progress.

Dow (17,245)

Sub-wave iii is completed and sub-wave iv is in progress. But be very careful if iv goes below the top of sub-wave i, then the current correction can no longer be iv.

FBMKLCI (1,658)

KLCI is either forming wave c of iv,

Or it is forming the c of ii.

LCTH Corporation Bhd (Rm0.815)

Wave (v) of major wave 3 is about to end.

Felda Global Ventures Holding Bhd (Rm1.82)

If Rm1.82 support can hold, wave (v) of major wave 3 rebound may start anytime from now.

However, if Rm1.82 level cannot hold, it is more likely that FGV is forming the wave a of mega wave (2).

Inari Amertron Bhd (Rm3.97)

Inari announced an improved quarterly earning of 6.24 sens a share, a special dividend of 0.50 sen a share, a first interim dividend of 2.30 sens a share and a 1 for 4 bonus issue. It added 15 sens on Friday.

If Inari is not able to break its upper resistance line, mega wave (1) is likely to have ended.

However if Inari can punch through its upper resistance line, then the current up-trend is the wave (iii) of its major wave 3.

Insas Bhd (Rm0.865)

I hope the current up-trend is its major wave 5.

EG Industries Bhd (Rm0.80)

EG is at the tail-end of its major wave 3. The heavy selling on Wednesday and Thursday upon the listing of new shares (right-issue) on Wednesday sent the OBV into bearish territory, sign of distribution.

EG is forming its wave (iv) currently if I am right.

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Dow - Wave (iii) has ended

Dow (17,448)

Dow dropped 254 points (-1.44%) on Thursday . With this drop, the pullback becomes a higher degree correction. It becomes possible that its wave (iii) has ended.

So far the pullback has formed 5 little down waves i-ii-iii-iv-v, 5 waves formation usually indicates the starting of a new trend. Hopefully this is the wave a of (iv). The next rebound can be the wave b before end of November. The rate increase in US in December will provide the wave c of (iv).


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Dow, KLCI and FGV

Dow (17,743)

Two hours after the opening bell on Wednesday morning, Dow lost about 15 point. Dow has completed its sub-wave iii on last Friday with a failure mini wave 9. Very likely it has completed its sub-wave iv.

FBMKLCI (1,665)

KLCI dropped 20 points (-1.2%) on Wednesday. I am looking at two possibility for KLCI at this moment. It is either c of ii

Or it is a of iv.

Felda Global Ventures Holding Bhd (Rm1.86)

Very likely FGV is forming its sub-wave iv.

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Weekly Update

Crude Oil WTI (US$44.54 a barrel)

Wave 3 of d is about to start.

Dow (17,910)

Sub-wave iii is about to finish.

FBMKLCI (1,685)

At this moment, KLCI is either forming its mini wave 3 of ii, a very bullish scenario but not inline with the Dow.

Or in tandem with Dow, a not so bullish wave b of iv

Or its wave b of ii 

Asian Pac Holdings Bhd (Rm0.225)

Asiapac is on its major wave 3

I hope it is forming its mini wave 2 now and it should not last more than 2 days, otherwise, it is something else.

Malayan United Industries Bhd (Rm0.20)

Mui was very active on Friday with 18 million shares changed hand.

Is this the starting of the sub-wave iii of its major wave 3 ?

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Stocks with wave (1)-(2), 1-2 , (i)-(ii)

Felda Global Ventures Holding Bhd (Rm1.97)

Sub-wave iii in progress. If iii has the same magnitude as that of i the target is Rm2.14. But if its magnitude is 1.618 times of i then iii may reach Rm2.40.

EG Industries Bhd (Rm0.795)

EG is forming its major wave 3.

If EG continues to move side way to lower in the next few days, very likely it is forming its wave (iv).

But if it can move higher and can pull away from the 82 sens level tomorrow, then we will have sub-wave vii for EG.

RGB International Bhd (Rm0.195)

Major wave 3 in progress.

RGB is currently forming the mini wave 7 of its sub-wave v of wave (i).

Asian Pac Holdings Bhd (Rm0.225)

Asiapac continues to form its major wave 3.

Hopefully today's candlestick with high volume is the starting of its wave (iii) of major wave 3 of Mega wave (3).

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Felda Global Ventures - sub-wave iii ?

Is this the starting of sub-wave iii of (iii)?

Crude Oil WTI (US$47.70 a barrel)

Crude oil (WTI) is heading for US$50.00 to complete its wave d.

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