Why to buy/hold kcb
Kcb started its 1st Elliott wave on 20th jan 2016 after completing 5 impulse wave downtrend. The expectations after wave 5 are either:
1. ABC correction
2. Start of the 5 impulse wave in uptrend.
Kcb had wave( i) on 25th jan 2016, retraced to wave (ii) on 28th feb 2016 concurring with 61.8% Fibonacci level which is generally accepted as wave two level. The correction to wave (ii) was a zigzag pattern or what is generally referred as bullish gartley pattern by harmonic traders.

Targets projected from wave iv of 5 were, 1st target 40.5 and 2nd target 41.4 and 3rd 44.3
Wave (iii) started on 28th jan 2016 to 9th feb 2016 making its five impulse waves as shown on the chart below and ended at a high of 41.25 missing our projected target by 0.15 cents
Targets projected from the zigzag pattern on wave (ii) were 1st 39.4, 2nd 39.94, 3rd 41.4. Both 1st and 2nd target were exceeded. But missed the 3rdtarget with only 0.15 cents.
The altenative wave count is as shown on the chart below

Retracement started from a high of 41.25 to a low of 39 forming a complex and overlapping pattern (? Triangle). The low was 50% of wave 5 and 1 forming wave (2 or B) or 61.8% of wave (ii) and (iii) ruling out wave (iv) as shown below.

Rulling out wave (iv)


So now we are left with two options. We are expecting either wave 3 or wave c

Where are we on kcb wave?

Wave (i) of 3 or (i) of C ended at high of 42. Wave (ii) of 3 or (ii) of C is in the making. The end is expected at either 50% retracement (40.5) or 61.8% of (2 or B) TO ((i) of 3 or (i) of C) = (40.1).
Projected sell Targets will depend on the low that might be made on Monday 14th March 2016. If a low of 40.1 will be hit, then
1st target = 42.5
2nd = 43.2
3rd =45
4th = 48



UPDATE
let us revise the wave count following the last events. our 1st and 2nd targets were realized as predicted earlier.


where are we?
the current rally is believed to be working toward the end of wave 4 with the implication that the downtrend could be is incomplete. we have a regular flat pattern in place.(ABC)


expectatation
if the wave count is right, we might have the last leg of five wave down to hit the bottom to the following tentative targets

TARGET 1= 35.4
TARGET 2= 33.3
TARGET 3 = 27.3

STATEMENT DISCLAIMER
This analysis is designed to inform you on the counter's direction. It is not a recommendation to buy or sell but rather a guideline to interpret the market. The information presented should only be used by investors who are aware of the risk inherent in trading. I shall have no liability for any investment decision based on the use of this analysis

Thanks @karasinga.

As much as we respect charts because Math is a true knowledge that no reasonable man can doubt, follow your spirit. Do not jump into a counter without consulting your instincts plus other factors!

counter of to be on watchlist:
1. msc
2. lkl
3. hafr
4. arm
5. uchm
6. btak
7. kplc
8. adss

on this list iam seriously watching and taking doses of britam and kenya power

Long termers are already locked in I don't think pockets of traders can trigger a rally as much as we head towards books closure. Expect sub 10/- before books closure and later on 8/-. No new info to speculate on at AGM if any. All good news is exhausted and captured in the current price.