EG and Insas - Major wave 5 in progress

EG Industries Bhd (Rm0.89)

EG reversed with a strong candlestick with improved volume on Monday after forming 2 dojis last week.

This is likely to be the mini wave 3 of sub-wave i of wave (iii) of major wave 5. There is still a long way to go.

Insas Bhd (Rm0.675)

Insas gained 2.5 sens on Monday to indicate the starting of its wave (iii). It ended its wave (ii) with a failure sub-wave v of c.

This is the wave (iii) of its major wave 5.
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Weekly Update

Crude Oil WTI (US$44.72)

Crude oil continues to form its wave (iv). Currently it is at its wave a of (iv).

Dow (18,576)

If Dow continues to move higher next week, then sub-wave iii is on with more new record highs in the process.

But, if Dow were to move lower next week, then it is forming its wave c of ii.

FBMKLCI (1,684)

KLCI continues to form its sub-wave iii.

Felda Global Ventures Holding Bhd (Rm2.03)

FGV looked extremely bullish with its last two candlesticks that made its latest correction a one degree lower mini wave 2 correction.

EG Industries Bhd (Rm0.85)

EG formed a 'dragonfly doji' on Thursday followed by a 'gravestone doji' on Friday, both the doji signs indicate an impending reversal. Will it start to form its mini wave 3 next week?

Berjaya Corporation Bhd (Rm0.345)

BJCorp after forming its peak in 2010 it has been moving in a down-trend direction.

By drawing straight lines joining the low points, it can be observed that the gradient of the down lines has become smaller and smaller.

And from the 2-year chart, one can see that if BJCorp can hold at 34 sens and above, the gradient becomes zero giving a 'double bottom' reversal pattern. My wave count indicates a possible completion of wave C at this level with the completion of sub-wave ix of (v). Is this going to be the final bottom for BJCorp after 5 long years?

This stock has been strongly recommended by Calvintaneng since 2014. Click 'Berjaya Corporation - The Berkshire Hathaway of Malaysia' for his article that was first posted in September 2014 and was posted again in February 2016.

Please bear in mind that some of the figures/statistic stated in this 2014 article might have changed in the last two years due to some corporate exercise taken by the owner of BJCorp.

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FBMKLCI - Sub-wave iii continues.

FBMKLCI (1,678)

KLCI continued with its sub-wave iii after a day of rest. But based on advance-decline indicator, the market has moved up for 7 sessions in a row.

Felda Global Ventures Holding Bhd (Rm 1.97)

I have revised my wave count for FGV as shown. The last 5 days of correction becomes the mini wave 2.

RCE Capital Bhd (Rm1.08)

RCECap surged 30 sens on excellent 2nd quarter result. It closed limit-up at Rm 1.08. It reported a 4 folds increase in earnings per share of 5.4 sen following share consolidation (4 into 1) and capital repayment of Rm 0.075 per ordinary share.

Looking at the long-term chart, it has cut through its upper channel and is either forming its sub-wave i of (iii)

Or on a less bullish reading, it is forming its wave (iii) currently, but it will go to a higher level than sub-wave i in its current run up.

EG Industries Bhd (Rm 0.855)

Hopefully EG is forming the mini wave 1-2 of its wave (iii) of 5.

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FBMKLCI - Breakout

FBMKLCI (1,672)

Election is coming.

KLCI is forming its sub-wave iii of wave(iii).

They sure can talk

And can talk very well

This is Malaysia

Talk and talk

Thinking of becoming a whistle-blower?

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Weekly Update

Dow (18,543)

Dow moved up strongly on Friday, gained 191 points (+1%). The two weeks of down-trend is too long to be a mini wave 4 that I have mentioned previously. It appeared more likely that it is the sub-wave ii, even though the sub-wave i has only 3 waves. If the current up is the sub-wave iii of wave (iii), it is expected to be strong and dynamic otherwise it is a small wave b of ii rebound.

FBMKLCI (1,664)

KLCI continued with a stronger second green candlestick, very promising. But it stopped right at the upper trend line. Can it punch through the ceiling next week? If the government is pushing, then sub-wave iii will continue. And of course if the government is not pushing, we can forget about the Malaysian stock market as long as the 1MDB issue remained.

Felda Global Ventures Holding Bhd (Rm1.95)

FGV gained 5 sens on Friday. With that it is either forming its mini wave 5,

Or it is forming its sub-wave v, if it can punch through its upper trend line.

Insas Bhd (Rm 0.64)

I have revised my wave count for Insas. Most likely it has not yet completed its sub-wave v of its wave c. It may need another 3 weeks to complete the sub-wave v unless it is a failure v.

EG Industries Bhd (Rm0.855)

I hope its Friday's green candlestick marked the starting of its wave (iii).

Dufu Technology Corp. Bhd (Rm0.62)

The next up-trend for Dufu is its sub-wave v.

Kronology Asia Bhd (Rm0.215)

Very likely Krono has started its major wave 3 since early July

The wave form will be very bullish if it can move to 24 sens to form its mini wave 5. This 5 waves can be taken as confirmation of the starting of its major wave 3.

The next pullback can either stop at 22 sens for its mini wave 6 or it can stop at 20 sens to form its sub-wave ii. Krono is likely to take a few months to complete its major wave 3.

RCE Capital Bhd (Rm0.75)

The wave form for its wave (i) is very bullish. I have been waiting patiently since November 2015 for it to complete its wave (ii). 8 months is indeed a long wait.

Identical to Krono, if RCECap can move to 79 sens to form a mini wave 5, it confirmed the starting of wave (iii). Then the next correction can either be mini wave 6 or sub-wave ii.

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FBMKLCI - Has sub-wave iii started ?

FBMKLCI (1,655)

KLCI gained 6.79 points (+0.4%) today. Is this the first candlestick of sub-wave iii?

There is a possibility that sub-wave ii has ended with a a-b-c-d-e corrective wave.

Felda Global Ventures Holding Bhd (Rm1.90)

FGV came under profit taking today. If it can continue to move higher and unable to punch through its upper resistant line, very likely this is the mini wave 4 of its sub-wave iii.

But if it can punch through its upper resistant line, then its is forming a very bullish running a-b-c mini wave 2.

But if FGV continues to move lower, then I have no choice but to accept the possibility that sub-wave iii has ended with only 7 minor waves, wave ix is missing.

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They are pushing FGV

Felda Global Ventures Holding Bhd (Rm1.92)

Looking at the way FGV moved, an early election is highly possible.

FGV gained 5 sens and moved higher than its previous high set last week. The 4 days of correction is the mini wave 2, sub-wave iii has not yet ended. Very bullish indeed.

Its OBV is very strong and is in record territory, higher than its OBV at Rm 5.50.  In fact in mid July when FGV is at around Rm 1.55, its OBV has already surpassed its OBV at Rm 2.00.

I don't know how high they wanted to push FGV but going by the wave count, there is still a long way to go. It is no more on fundamental but this is also the danger. Hopefully the chart can tell me when the music is going to stop.

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