Friday, March 17, 2017
Thursday, March 16, 2017
EG Industries Bhd (Rm 0.935)
EG has a strong candlestick today with moderate volume. It appeared to me that EG has completed its sub-wave iv correction with a failure wave c.
Very likely sub-wave v has started.
EG still has a long way to go to complete its major wave 5. Hopefully it can be completed within the next 6 to 7 months.
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Very likely sub-wave v has started.
EG still has a long way to go to complete its major wave 5. Hopefully it can be completed within the next 6 to 7 months.
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Wednesday, March 15, 2017
Insas Bhd (Rm 0.89)
Very likely the last two days of consolidation is the minor wave iv. Insas may stay at the current level for another day or two before moving higher again to form its minor wave v of its sub-wave iii.
The extreme high volume is a typical wave iii of iii of (iii) of 3 scenario.
Looking at the 10-year chart, Insas is on its sub-wave iii of wave (iii) of major wave 3 of mega wave (5).
In stock, anything can happen. Even though this is unlikely, but if Insas is unable to hold at its current level and start to move lower in the next few days to around 82 sens level, then Insas is forming its wave (iv).
This scenario is possible but unlikely because of the high volume in the last few days. Wave b can never have the highest volume.
Hopefully this second scenario can be ruled out by Friday. All I need is another surge to above 93 sens to confirm the very bullish first scenario.
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The extreme high volume is a typical wave iii of iii of (iii) of 3 scenario.
Looking at the 10-year chart, Insas is on its sub-wave iii of wave (iii) of major wave 3 of mega wave (5).
In stock, anything can happen. Even though this is unlikely, but if Insas is unable to hold at its current level and start to move lower in the next few days to around 82 sens level, then Insas is forming its wave (iv).
This scenario is possible but unlikely because of the high volume in the last few days. Wave b can never have the highest volume.
Hopefully this second scenario can be ruled out by Friday. All I need is another surge to above 93 sens to confirm the very bullish first scenario.
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Tuesday, March 14, 2017
Ken Holdings Bhd (Rm 0.90)
Ken is a property developer and is also a contractor for marine and civil engineering works. Is last 4 quarterly earnings are 2.13, 2.32, 4.75 and 6.26 sens a share. Net assets per share is Rm 1.42.
From its long term chart (20-year), one can see that Ken has completed its mega wave (1)-(2), major wave 1-2-3-4.
From its 12-month chart, It appeared to me that Ken has completed its major wave 4 in January 2017. The February high 93 sens is likely to be its sub-wave i. It is possible that it has completed its sub-wave ii and is ready to begin its sub-wave iii of wave (i) of its major wave 5.
A very thinly traded counter.
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From its long term chart (20-year), one can see that Ken has completed its mega wave (1)-(2), major wave 1-2-3-4.
From its 12-month chart, It appeared to me that Ken has completed its major wave 4 in January 2017. The February high 93 sens is likely to be its sub-wave i. It is possible that it has completed its sub-wave ii and is ready to begin its sub-wave iii of wave (i) of its major wave 5.
A very thinly traded counter.
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Saturday, March 11, 2017
A bearish week for oil future.
Crude Oil WTI (US$48.49)
Crude oil (WTI) future dropped sharply by 8.7% in the last three trading days from US$53.14 to US$48.49
From the monthly chart, the 2017 March's candlestick until Friday is a long red body candlestick. Since this is the mini wave 4's candlestick, I don't expect it to have a long solid red body. I am expecting some rebound in the next two weeks. By end of March the candlestick is expected to have a small body with a long lower shadow like the one for mini wave 2.
The mini wave 5 is expected to end near US$60.00 to complete the wave (iv).
Dow (20,902)
Magnitude for mini wave 4 is almost there. Dow is expected to begin its mini wave 5 next week to complete its sub-wave iii.
FBMKLCI (1,717)
If KLCI can move higher next Monday, then the sub-wave iii has nine waves as shown below.
If it moves lower on Monday and Tuesday, then it is a running a-b-c sub-wave iv. Sub-wave iii has ended, it has only five waves.
Gadang Holdings Bhd (Rm1.26)
Gadang's sub-wave vii is going to be a long one. Friday's surge is the minor wave iii of mini wave 3 of sub-wave vii. Friday's volume is impressive.
To classify Friday's surge as minor wave iii, I need the help of its 30-minute-interval chart. (Every 30 minutes one candlestick)
From the 30-minute-interval chart, it is very clear that Friday's up is minor wave iii. Next Monday Gadang is expected to move higher at the opening but should turn red by noon to complete its minor wave iv. Hopefully Gadang can close on positive territory on Monday to start its minor wave v.
Insas Bhd (Rm0.88)
Insas was very active on Friday with close to 10 millions shares changed hand. It gained 3.5 sens (+4%) to close at 88 sens.
The main question now is whether Insas has completed its wave (iii).
If Insas can continue to move higher with high volume next Monday, then it is forming the sub-wave iii of its wave (iii).
Based on its high volume on Friday, sub-wave iii of wave (iii) is a more likely scenario.
But if Insas were to move lower on Monday and continues the down-trend in the following days with shrinking volume, then it is forming a a-b-c wave (iv). Wave (iii) has ended.
This is a less likely scenario because wave b cannot have such a high volume. But based on my so many years of charting experience, sometimes the unlikely scenario can turn out to be the one. It may be rare but it can happen. Stock market is like that. Nothing can be 100% sure.
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Crude oil (WTI) future dropped sharply by 8.7% in the last three trading days from US$53.14 to US$48.49
From the monthly chart, the 2017 March's candlestick until Friday is a long red body candlestick. Since this is the mini wave 4's candlestick, I don't expect it to have a long solid red body. I am expecting some rebound in the next two weeks. By end of March the candlestick is expected to have a small body with a long lower shadow like the one for mini wave 2.
The mini wave 5 is expected to end near US$60.00 to complete the wave (iv).
Dow (20,902)
Magnitude for mini wave 4 is almost there. Dow is expected to begin its mini wave 5 next week to complete its sub-wave iii.
FBMKLCI (1,717)
If KLCI can move higher next Monday, then the sub-wave iii has nine waves as shown below.
If it moves lower on Monday and Tuesday, then it is a running a-b-c sub-wave iv. Sub-wave iii has ended, it has only five waves.
Gadang Holdings Bhd (Rm1.26)
Gadang's sub-wave vii is going to be a long one. Friday's surge is the minor wave iii of mini wave 3 of sub-wave vii. Friday's volume is impressive.
To classify Friday's surge as minor wave iii, I need the help of its 30-minute-interval chart. (Every 30 minutes one candlestick)
From the 30-minute-interval chart, it is very clear that Friday's up is minor wave iii. Next Monday Gadang is expected to move higher at the opening but should turn red by noon to complete its minor wave iv. Hopefully Gadang can close on positive territory on Monday to start its minor wave v.
Insas Bhd (Rm0.88)
Insas was very active on Friday with close to 10 millions shares changed hand. It gained 3.5 sens (+4%) to close at 88 sens.
The main question now is whether Insas has completed its wave (iii).
If Insas can continue to move higher with high volume next Monday, then it is forming the sub-wave iii of its wave (iii).
Based on its high volume on Friday, sub-wave iii of wave (iii) is a more likely scenario.
But if Insas were to move lower on Monday and continues the down-trend in the following days with shrinking volume, then it is forming a a-b-c wave (iv). Wave (iii) has ended.
This is a less likely scenario because wave b cannot have such a high volume. But based on my so many years of charting experience, sometimes the unlikely scenario can turn out to be the one. It may be rare but it can happen. Stock market is like that. Nothing can be 100% sure.
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Thursday, March 9, 2017
Facb (Rm1.29) - Forming major wave 5
With Facb moving steadily to Rm 1.29, I guess I can rule out its second possibility that I have mentioned in my earlier posting.
It appeared to me that Facb's share price is moving along the path of the first possibility, forming its major wave 5.
Mini wave 3 of its wave (iii) is about to end. Mini wave 4 is likely to have a 4 to 6 sens pullback.
As I have mentioned previously, Facb has Rm 155 million of cash in hand, which is about Rm 1.82 of cash per share.
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It appeared to me that Facb's share price is moving along the path of the first possibility, forming its major wave 5.
Mini wave 3 of its wave (iii) is about to end. Mini wave 4 is likely to have a 4 to 6 sens pullback.
As I have mentioned previously, Facb has Rm 155 million of cash in hand, which is about Rm 1.82 of cash per share.
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