It appears that our previous wave count earlier in May (posted on 5/5/21) was void after PA failed to break into new high and instead move down lower. Our new wave analysis reveals that the 5th wave was truncated in a form of an ending diagonal. The selloff that follows was a corrective wave A of a zig zag followed by a bounce to form wave B. We believe the correction has not ended and wave B might terminate at 78.6% fib retracement level of wave A before heading down lower. Nearest potential support for wave C termination seen at RM0.390 which is at 38.2% level followed by RM0.330 at 50% level. The medium term outlook on PA appears bearish at the moment and we will continue to monitor the stock for signs of bottoming before taking any long position.