Weekly Update

Dow (21,414)

Dow continues with its mini wave 4 formation. Technically it still has a mini wave 5 to go unless it has a failure sub-wave v with mini wave 5 missing.

FBMKLCI (1,759)

KLCI has started its wave C. It is forming the wave i of C at this moment. If KLCI can have a rebound from its current level, very likely the rebound is the wave ii of C, forming a 'head and shoulder' reversal pattern.

Once KLCI continues to move lower next week, we can forget about the 'head and shoulder' pattern.

ATTA Global Group Bhd (Rm 1.16)

ATTA punched through the lower support on Friday. With that drop, very likely it has completed its mega wave (1) and has started its mega wave (2).

The question now is how low can mega wave (2) go? Technically it can stop at major wave 4 at 1.05, or stop at major wave 2 at 0.65. The worst case is a 100% retracement to its September's low of 0.435 which is unlikely.

Another possibility is a running A-B-C major wave 4 as shown below.

EG Industries Bhd (Rm 0.81)

EG is at the tail end of its major wave 4. Hopefully major wave 5 can start soon.

Gadang Holdings Bhd (Rm 1.30)

Gadang is about to complete its major wave 3.

There is only one more run-up, the mini wave 5.

Insas Bhd (Rm 1.10)

Insas is about to end the sub-wave v of its wave (iii).

One more wave to go, the minor wave v of mini wave 5 of its sub-wave v.