Weekly Update

Crude Oil WTI (US$41.45)

Crude Oil is forming its wave (iv) which is going to take another 12 months to complete. Currently it is forming its sub-wave ii correction.

Dow (18,432)

Very likely Dow has completed its mini wave 1-2-3-4. Mini wave 5 is on the way, Dow will set more new record highs.

Looking at the 5-hourly interval chart, the mini wave 4 was completed 4 days ago. Hopefully I am right.

FBMKLCI (1,653)

My reading for KLCI is based on the assumption that the current BN government is going for an early election and KLCI is forming its major wave 5.

KLCI is currently forming the sub-wave ii of its wave (iii). The next up trend is expected to be dynamic with high volume as it is the sub-wave iii of wave (iii). Hopefully sub-wave iii can start to form before end of next week.

My favorite stocks are the same, EG, Insas and FGV. I have added another stock Denko in my watching list.

EG Industries Bhd (Rm0.84)

Very likely EG has completed its major wave 4 at the beginning of May. Since then it has been forming its major wave 5.

It took 3 months, May, June and July to form the wave (i)-(ii) of its major wave 5. It may take another week to complete its wave (ii) unless there is a failure c.

Insas Bhd (Rm0.65)

Same as EG, Insas has also completed its major wave 4 and wave (i)-(ii) of its major wave 5.

Since early July, if I am right, its has form the sub-wave i-ii of its wave (iii). Next up should be the iii of (iii).

Felda Global Ventures Holding Bhd (Rm1.85)

If the recent high is the completion of its sub-wave iii, FGV may have to take another week or two to complete its sub-wave iv

However if the 'interested party' starts to push the stock again next week, then the last high could be the mini wave 1 of sub-wave iii and the correction in the last few days could be the mini wave 2.

Denko Industrial Corporation (Rm0.36)

After reading an article from 'Bonescythe Stock Watch'. Click 'Bonescythe-Denko' for the article. Amongst the many many stocks that he has recommended, I found that Deko's chart is very bullish with strong OBV indicating strong accumulation.

My interpretation of its chart is an unbelievable wave (1)-(2), 1-2, (i)-(ii), i-ii and 1-2 formation. I hope I am right and of course, I could be wrong too. OBV is really impressive.

I love the bullish formation of overlapping mini wave 1-2-3-4-5 for its sub-wave i.

And again I have the same bullish overlapping minor wave i-ii-iii-iv-v for is mini wave 1 as shown in the 6-month chart.

Its last three quarterly earning is on the up trend, from 0.56 sen improved to 0.80 sen and in the last quarter ending 31st March, 1.45 sen. NTA is Rm0.54 a share. Total number of shares is 104 millions. Net borrowing is about Rm 8 millions. Accumulated losses Rm 4.7 million. Reserve Rm 19.3 million. Everything looks OK. The next thing to watch is its next announcement for its quarterly earning for quarter ending 30th June.