Market Analysis The 4 Kings are TOPGLOV, SUPERMX, KOSSAN & HARTA: (not to be confused with Andy Lau, Leon Lai, Aaron Kwok & Jacky Cheung) Fundamental good stocks with strong revenue and cash positions. However, those that chase these heavily promoted stocks at the high side would really need to hold long term in order to recoup. Not sure when it will happen...
Downtrend Will Horizontal Price Movement within 1974-2101 can buy when drop near to support level . MYX:HEALTH
MYX:HEALTH Downtrend Will Horizontal Price Movement within 1974-2101 can buy when drop near to support level.
It doesn't matter "omicron variant" gonna get "stronger" or "weaker" than "delta variant" Or Does it matter ASP ( Average Selling Price ) Gonna "cheaper". WHat do you think one of coming world worst inflation rate will make ASP go lower?...Glove's "Economic Cycle" Gonna to run and start the engine "making money"...
Malaysia Health Index which comprise most of gloves stocks have very high positive correlation with Glove's stock price. The Index chart seem like completing its wedge /triple zig-zag pattern soon.
Repeating pattern - Rising wedge (bearish) - Breakdown from wedge = sharp fall - Technical rebound (yellow box) - Sharp fall continues/intensifies
Sign of Strength in the chart: Daily Chart 1. Green Pentagon 2. Cross 20/40ma 3. NS signal Hourly Chart; 1. Green Pentagon above 20/40ma 2. Healthy Pullback 3. NS signal Disclaimer This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Potential false breakout to 5.87 before breaking down from rising wedge
Top Glove is facing strong resistance at the 50% fibo level. Rising narrowing wedge forming and nearing the tip. Volume is also decreasing. If break below trendline, expect a major selldown and breakdown to RM3.50 (23.6% fibonacci level). This is also JP Morgan's target price.
Malaysia Bursa Healthcare Sector break downtrend line. More higher high and higher low incoming.
I believe JP Morgan's call for RM3.50 is a valid call. Fundamentally, the company is making money but this is a seasonal business. Top Glove won't be able to sustain such a business volume forever. With vaccines coming out, the business volume of Top Glove will certainly be in downward trend. If a business comes because of covid-19, it will leave when covid-19...
Topglov results beat all sell-side consensus. As shown, TopGlov issue is never about fundamentals and earnings. Their problem has been the PR/Corporate image impact due to Covid-19 and the labor issue. After declaring a quarterly dividend, at the current price, the yield is around 2.3%, what's next!? Perhaps, Christmas rally or CNY Ang Pao? HAHAHAA :) Not a buy...
It seems like people will learn their lessons very hard and very hard indeed. As someone who has spent their time in the market for the past 5-6 years and outsourcing most of my trading/investing to algorithm, I know with high certainty that gloves are near peak when everyone I know started asking about Topglove and glove stocks. And then the justifications game...
If Topglove rebounds from here and then it breaks below RM 20, the trend is OVER. Similarly, if Topglove manages to break above RM 30 and sustain, then it is still game on. I have seen a lot of interest from retail Malaysians and even Singaporeans on this stock. People are speculating whether Topglove can become the biggest stock in Bursa and can overcome DBS...
Just like most glove counters, Kossan was caught by the heavy sell down this few days. As for as the major trend is concerned, it seems that KOSSAN is just resting on the uptrend support line. Will need to observe and see if it can bounce back up in the next few days.
Rising wedge triangle seen here with an overbough RSI. Potential sharp correction soon? Healthcare equipment counters are piping hot nowadays due to the ongoing pandemic. However, there is always a chance that reality may not meet the expectation. Chart wise, hartalega, like most glove counters, it continues to chart high higher highs but it seems to me there may...
Riding on the healthcare demand theme, topglov's share price has risen significantly in the past few months. While many are doubting the sustainability of the valuation and the continuous rally, investors/operator interest in glove counters seemed to be unfazed, with new highs charted almost every week. Chart and indicator wise, it seems like topglove is...