Ron95 - Price to drop

Crude oil (WTI) price moved lower in the previous week. It dropped from its Monday high of US$50.28 a barrel to its Friday closing price of US$47.66 a barrel.

The government is likely to announce lower petrol prices tomorrow.

.

Weekly Update

Dow(21,206)

Dow is going to set more new historical highs on its way to complete its wave (v).

FBMKLCI(1,776)

KLCI is expect to move in tandem with Dow. I expect KLCI to complete its wave B more or less the same time as Dow in completing Dow's wave (v) as well as its major wave 7. And next will be the 15% correction for both, unless I am wrong in my chart interpretation.

.

ATTA Global Group Bhd (Rm 1.30)

ATTA reported excellent quarterly earning of 14.86 sens a share on yesterday evening. Its net assets is Rm 1.82 per share.

Its quarterly earning has been going up since early 2016 from -5.52 sens a share for its 1st quarter 2016 to +0.24, +3.42, +6.74 and +14.86 for the latest quarter.

ATTA gained 13 sens (+11%) today to close at Rm 1.30 on high volume of 2.1 millions share.

Technically, ATTA looked bullish with strong OBV. There are two likely wave-count at this moment depending whether it can break its upper trend-line.

If it can break its upper trend-line at around Rm 1.50, the current up-trend can be the wave (iii) of 3.

But, if it is unable to move higher than Rm 1.50, then the current up-trend is the major wave 5 as shown below.

ATTA-WB (Rm 0.43) has a better performance today. It gained 15 sens or 53%. The conversion rate for the warrant is Rm 1.00. Its maturity date is 9th May, 2022.

.

Ron95 - Price likely to go up

In the previous week the price of crude oil WTI opened the week at US$50.60 a barrel. It moved to a high of US$52.00 and dropped to a low of US$48.18 before closing the week at US$49.80. The average price for the week is higher. Very likely the petrol prices are going to move higher again.

The best we can hope for is - prices remain the same.

.

Dow - Sub-wave v is likely to have 5 mini waves

Dow (21,080)

After reaching its current level, it looks like Dow is continuing with its mini wave 3, 4 and 5.

FBMKLCI (1,772)

In tandem with the Dow, KLCI is going to form its mini wave 3, 4 and 5.

Insas Bhd (Rm 0.965)

Insas announced a quarterly earning of 9.99 sens a share on Wednesday with net assets at Rm 2.30 a share. Its share price went to as high as Rm 1.02 on Thursday morning. Insas recorded a volume of 39 millions share at the close on Thursday but it formed a reversal 'Long-legged Doji' signalling the completion of mini wave 3. Mini wave 4 started on Friday with 2.5 sens drop.

From its quarterly financial report, one will notice that 80% (Rm 57 millions) of its pre-tax profit of Rm 68 millions is from 'Other income - Note 2'

'Note 2' shows that Rm 12 millions is from 'Exchange gain', Rm 22 millions is from 'Fair Value Gain on financial assets' and another Rm 9 millions from disposal of shares in associate companies.

Its actual earning from its current business operation is rather miserable.

But from its long-term chart, Insas is on its mega wave (5).

Minimum target is a 'double-top' formation of Rm 1.30. Maximum target is Rm 1.80 by assuming another 200% gain for the mega wave (5).

.

Ron95 - Price to go higher

Crude oil (WTI) price has moved up from US$47.84 a barrel to US$50.33 a barrel during the previous week. Petrol prices are expected to go higher in the coming Wednesday fuel price announcement.

Weekly Update

Dow (20,804)

My reading for Dow remained the same. Dow is either on its way to complete its mini wave 3, 4 and 5 of its sub-wave v of wave (v) of major wave 7.

Or Dow has already completed its wave (v) with a failure sub-wave v. This is a bearish option with Dow currently forming its major wave 8 with a possible 15% correction.

FBMKLCI (1,768)

Depending on Dow's direction, KLCI is either on its way to complete its mini wave 3, 4 and 5

Or on its way to complete its mini wave 5

Or it has already completed its wave B in early March and is moving south to complete its wave C.

.