Dutaland, PM Corp and Priceworth

Dutaland Bhd (Rm 0.605)

Sub-wave iv correction may last a few more day.

Pan Malaysia Corporation Bhd (Rm 0.28)

It is forming its major wave 5

The current pullback is the wave (ii) of its major wave 5. It may drop to around 25 sens level.

 

Priceworth International Bhd (Rm 0.25)

PWorth is either forming its sub-wave ii of wave (iii)

 

OR it has completed its wave (iii) and is forming its wave (iv) at this moment.

 

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KSL, PWorth, Olympia & Dutaland

KSL Holdings Bhd (Rm 4.27)

KSL is taking a breather to form its minor wave i and ii of its mini-wave 3 of sub-wave iii.

Priceworth International Bhd (Rm 0.265)

Sub-wave v of wave (iii) in progress.

I expect PWorth to go above Rm2.00 by 2017 when the company monthly log output reaches 100,000 cu.m and its timber mills can operate close to 80% of its capacity. The only question is whether the 'assets bubble' will burst before 2017.

 

Olympia Industries Bhd (Rm 0.195)

Currently it is either forming its sub-wave iii of wave (v)

OR it is forming the wave b of its major wave 2. I put this option as less likely especially when Dutaland is moving.

Dutaland Bhd (Rm 0.595)

Dutaland moved up strongly today. It added 5.5 sens (+10%) with very high volume of 44.5 millions shares changed hand. Since 2009's bottom, it has been moving side way forming its A-B-C-D-E mega wave (2).

After competing its mega wave (2) in 2013, it has formed its wave (i) and (ii) by end of August. Today's surge is the sub-wave iii of its wave (iii). That is why it is so dynamic. Hopefully my reading is right.

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KSL Holdings Bhd - Confirmed it is mini-wave 3

KSL jumped 37 sens (9%) to closed at Rm 4.24 today. It is the mini-wave 3 of sub-wave iii of wave (iii), thanks to an article on KSL published over the weekend by The Edge.

From its 20-year chart, the current up-leg is the iii of (iii) of 3 of (3), and mini wave 3 of iii has just started. Very bullish. I hope I am right.

 

Happy Mid Autumn Festival

to 

All of you especially to my old friends

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Dow, KSL, Pinepac.

Dow (17,137)

Dow put up a positive candlestick on Friday. If it can continue to move higher with new records, then Dow is forming its minor wave iii of sub-waves v of wave (xi).

KSL Holdings Bhd (Rm 3.87)

KSL is either forming the wave c of its sub-wave iv.

Or it is about to start the mini wave 3 of its sub-wave iii, very bullish indeed especially if it can break Rm 4.00 next Monday.

Pinehill Pacific Bhd (Rm 0.355)

The bad quarterly result it has announced recently, losing 4.51 sens a share is likely to be the reason why its stock price dropped 30% from its July's high of 52 sens. It also announced a net assets per share of 80 sens.

Technically the recent drop is the wave (ii) of its major wave 3 of mega wave (3). The next up can be exciting, it is the wave (iii) of 3 of (3), provided I am right.

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Penny Stocks

Karambunai Corp Bhd (Rm 0.095)

In the past, I have interpreted the chart for this stock wrongly in several occasions, and I am still holding my high-price stocks. In the last few months I started to collect this stock again and today I bought some at 9 sens hoping that the sub-wave iii of wave (iii) of mega wave (3) has started.

OBV is almost at its peak and the stock price has broken its upper trend line.

If my wave count is correct (hopefully), there is a possibility that sub-wave iii of wave (iii) has started.

Olympia Industries Bhd (Rm 0.185)

Olympia is either forming its major wave 2 corrective wave at this moment.

 

Or it is forming its sub-wave ii of wave (v). 

Pan Malaysia Holdings Bhd (Rm 0.125)

This is a fundamentally lousy stocks. In its latest quarter, it lost 0.12 sen a share. Net assets is only 6 sens per share, very very lousy for a stock selling at 12.5 sens.

But its chart looks very bullish, if my interpretation is correct. 

Firstly its OBV is very strong. Its OBV was close to its peak when its price was right at the bottom in 2013. Since then its OBV has been setting new records

Secondly, there is a potential long-term 'double bottom' formation.

Thirdly, I can see '3 soldiers' moving up the slope.

The July's low is either the wave (vi) or the wave A of its major wave 2.
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Weekend Update

Dow (17,098)

Dow added only 97 points during the week. It continued to form the sub-wave v of its wave (xi). Wave (xii) correction is likely to start in September. Be extremely careful on completion of wave (xiii) in early 2015.

Wave (xiii) can be the end of major wave (5) to be followed by a higher degree 15% or more major wave (6) correction, if we are lucky.

If we are unlucky, wave (xiii) can also be the end of mega wave 1 to be followed by mega wave 2 that can drop to 10,655 level, the bottom of major wave (4), for a 40% drop. The worst that can happen is a 100% retracement to March 2009's low of 6,547 level for a 65% drop.

FBMKLCI (1,866)

KLCI is forming the sub-wave iv of its wave (v) of major wave 3. The main question is whether sub-wave iv is completed.

If KLCI continues to move higher from its current level, then sub-wave iv is completed and sub-wave v in progress.

But if KLCI continues to drop further, then it is forming the wave c of its sub-wave iv.

KSL Holdings Bhd (Rm 3.95)

KSL failed to move higher on Friday, but the possibility of forming its mini-wave 7 is still there.

However, if it continues to move lower next week, then it is forming the wave c of its sub-wave iv. It announced a strong earning of 20.50 sens per share on Thursday.

Golden Pharos Bhd (Rm 0.78)

GPharos announced a poor earning of 0.2 sen per share. It is on its way to complete the wave c of its wave (iv).

Priceworth International Bhd (Rm 0.25)

PWorth announced a small quarterly profit of Rm168,000.00 for the first time after many quarters of losses. I hope it has finally turned around and the 16 sens low in June is the turning point for PWorth. The next up is the sub-wave v of wave (iii).

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KSL Holdings Bhd

KSL ended Thursday trading with 12 sens gain at Rm3.97 with high volume. If it can break Rm 4.00 and move higher, that will be its mini-wave 7 of sub-wave iii.

It reported a strong quarterly earning of 20.5 sens a share with Net assets at Rm3.70 per share.

Looking at its long-term chart, the current run-up is so dynamic because it is the sub-wave iii of wave (iii) of major wave 3 of mega wave (3), after completing its 'inverted head and shoulders' formation.

There is another property stock that has formed an 'inverted head and shoulders' pattern and has not yet fly is Glomac Bhd (Rm 1.13)

Its earning is considered weak. For its last quarter ending 30th April, it managed to make only 3.03 sens a share. Net assets reported is Rm 1.22 per share but I believe its net assets should be much more than that with the rapid appreciation in value of its properties over the last few years.

The chart looks nice but if it is not ready to move, holding it over months at its current level can be very frustrating, especially for senior citizens that have not much time left. :)

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