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.