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Topglove

Top Glove (Put your Masks On!) Updated View On Top Glove (10 Jan 2021) Did you read our previous analysis of 17 Aug 2020, on the Top Glove? (I will put the link of the prev post below) It went down to $6.5 as expected. Now. Listen. Something BIG happened in 04 Jan 2021. It could be the potential trend changer and the pullback of Oct 2020-Jan 2021 may be over. For the starter, $6.8 will be the nearest resistant and it shall be easily reachable. The $7.5~$7.6 region be next. So, do not short sell for now as the higher price can come in for quite sometime. On the flip side, $5 shall be strong support. Let's see. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
MYX:TOPGLOV
by SonicDeejay
9
Top Glove (To be calm is the highest achievement of the self!)View On Top Glove (17 Aug 2020) Top Glove was a strong bull trend and we believe the main bullish trend is still intact. Now we are experiencing a typical pullback. It can go down $6.5 region or even $5. But overall it is still bullish. Time your entry well.. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
SGX:BVA
by SonicDeejay
2
TOPGLOVE LONG at MOMENTUM BREAKOUTTechnical Analysis I think the right question to ask right now is has Top Gloves rebounded? From chart perspective wise, I believe Top Glove has huge momentum upcoming week, it is going to break above MYR 7.00 We could see further downside pressure if big RSS continues therefore cut loss is important, however i do believed RSS will hugely reduced, and Uptrend will start for all Gloves Sector. Fundamentally Analysis Top Glove FPE after next 2 quarters should be around FPE = 6. MYX:TOPGLOV Top Glove Expected upcoming quarter PAT is expected to reach around 3b PAT. As the pandemic still ongoing, their high Profits margins will remain strong and intact at least for another 6-9 months. For current price and Low PE, the risks-to-rewards is favourable. In all circumstances, there is always hope, lets hope Top Gloves to fly back to where it belongs !
MYX:TOPGLOVLong
by LMTAN
Path 1 or 2 for TopGlove next?TG has two short-term paths now, either path 1 or path 2. To enter path 1, TG must close above RM 5.70 quickly then yes likely will go back into the green channel. But this channel isn't any good news for everyone yet as it is still a downward channel and likely huge selling wall will be around RM6. Meaning further downside pressure in weeks ahead is still very likely. If TG fails to close back above RM5.70 quickly in next few days, likely it will choose path 2 which is to go down further to RM 4.50 region. Therefore, set stop loss to protect yourself. Take care and be safe always!
MYX:TOPGLOV
by livegreat
3
Has Top Glove bottomed? RM10 incoming? RM13 incoming?Awhile ago, we have started to see a M shape starting to form on Top Glove. In textbook, we call it the double top meaning price will reverse back to original level soon. This link will help you to study about double top, www.finvids.com But we have no confirmation yet until today 5pm we saw TG closed below RM6.11 key support level also called as the neckline. This therefore now serves as the first confirmation sign TG price will likely soon go lower than RM6. Second confirmation is to see TG breaking RM6 before we can confirm it will be heading to RM5. 2 more things to support this analysis: - All key moving averages have been broken. Look at all the colourful lines, TG is trading below all the main colorful lines now. - There has been a formation of 3 black crows on pass 3 days trading pattern. (Lower lows and lower highs were formed, this indicates further drops in days and weeks ahead.) To study about 3 black crows, please visit the link below: traderlaunch.com With all of these, I think the hope of seeing RM10 and RM 13 per TG will still be far away. The likelihood of incoming RM 4.50 to RM 5.50 per TG has higher chance now. Trade carefully everyone, cutting loss is also a profit taking strategy if you are not comfortable to see this falling knife upon your hard earned savings! More updates ahead soon! Wishing you all a happy new year 2021!
MYX:TOPGLOVShort
by livegreat
4
Is JP Morgan's call of RM3.50 for Top Glove valid? 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 becomes a history. That is basic logic. Putting fundamental aside, let see what is the chart telling us after a new high was made on 7th August 2020. The chart shows a clear double top formation which is always a bearish chart pattern. However how can we dive in deeper to get some confirmation on that? Elliot's wave theory of impulsive move 12345 and corrective move ABC are in play in this chart. Right after 7th August new high was made, immediately a sell off happened. The correction from 7th August to 10th September can clearly be seen as a wave A correction move. How do we know that? Because the wave consists of a small "abc" move. The first "a" move was between 7th August to 17th August, a move from 9.765 to 7.135. Then immediately from 18th August to 24th August we saw a bounce to 9.505 which is a "b" way move up. B wave always is a small impulsive move up. Then immediately followed by a "c" wave move down again to 6.15 on 10 September. This first cycle completed the first impulsive A wave move down. Then we saw a capital B big wave move up from 11th September to 16th October then sent TG to 9.72 range again. This move is a B wave up movement mainly because it consists of 5 smaller waves called 12345. But this wave got rejected again at 9.70 range. In my chart, you can clearly see all 5 waves that I have labelled them in blue. This therefore gives more weight to call it a B wave. Next final move is of course the C wave down again. How far can we see this C wave goes? C wave can go as far as 168% of A wave's length. In other words, it means 1.68 times longer than the downward move between 7th August to 10th September. How long was August A wave move? It was 9.765 - 6.15 = 3.615. So a 168% extension of this move will give us 6.0732 downward pressure. Just substract 6.0732 from a recent high made on 19th October will give us a possible target price for next move which is 9.72 - 6.07 = 3.65. So yes, next bearish move of this C wave will possibly send TG down to 3.65 level. This level is also a Fibonacci 78% retracement level from the swing high made in August and swing low made in March 16, at about 1.90. And therefore this is the confluence area of how low TG price could go. For now, for TG to be in bullish momentum again, it needs to break and close above 7.20 level to see further upside momentum. In conclusion, through technical perspective wise, RM 3.50 call is possible. However this is not a financial advice, always do your own research. Thank you!
MYX:TOPGLOVShort
by livegreat
16
TOPGLOVE LONG at Major Support Technical Analysis I think the right question to ask right now is has Top Gloves bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area 6.11 - 6.40. I would like to treat Support/Resistance as an Area rather than a Line. We could see further downside pressure if it breaks therefore cut loss is important. I used Low of the Strong Support 6.11 - 1 ATR (0.28 for the date i drew the graph) = 5.83 (My Stop Loss Point) It is at a very crucial level now that bulls must protect. Fundamentally Analysis Top Glove FPE after next 2 quarters should be around FPE = 6. MYX:TOPGLOV Top Glove Expected upcoming quarter PAT is expected to reach around 3b PAT. As the pandemic still ongoing, their high Profits margins will remain strong and intact at least for another 6-9 months. For current price at major support and Low PE, the risks-to-rewards is favourable. In all circumstances, there is always hope, lets hope Top Gloves to rebound !
MYX:TOPGLOVLong
by LMTAN
TopGlove?I will be looking forward to going Long at the red highlighted zone. Yes although the factories now are temporarily closed, it is expected that they will start with their operation in the next 2 to 3 weeks after the Quarantine period. My criteria to go Long when it reached the Zone: 1) Dtosch/Stoch Crossing up 2) Low bearish volume with small CandleS / High Bearish volume but with no to little CandleS. 3) Followed by high volume of bull (optional cup with handle shape) 4) Bull CandleS close above 15MA Additional: For Daytrader, You can use Daily TF for indication, H1 to look at the right location, and M15 to enter the position.
MYX:TOPGLOVLong
by AMianz
TOPG (17/11/2020) short term up, long term downTOPGLOV has been trading on downtrend channel since a month ago. With support zone of 6.45, it has a strong resistance at 7.65. Stochastic already showing an immediate upward momentum.There is a large gap of 8.0 - 8.5 which could potentially be filled if the price breakout the 7.65 resistance. EP 7.00 SL 6.455 TP 7.625 RRR 1:1 Apart from successful vaccine trial news, other negative sentiment that could potentially bring the stock further down EMCO at Top Glove dormitories: 3,550 workers to undergo Covid-19 tests Source TheEdge TAYOR.
MYX:TOPGLOVLong
by sothye
Topglove - Glove - Its the same thing over and over againIt 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 begins, "But its a good company", "But the earnings will be good", bla3. You guys don't understand the game yeah? Stock price moves in ANTICIPATION of good news ahead. Not AFTER good news. Usually stocks price will LEAD, not LAG behind fundamentals. Is Top Glove good company? Yes. But Market timing is EVERYTHING. You had the chance to buy early this year when Top Glove break out of its all time high. That was the BEST ENTRY. After that, things get MORE and MORE RISKY and the RISK REWARD ratio NO LONGER payoff. At this point in time, get ready for some volatility and for more downside. The stock will rebound, most probably making a lower high. The bull market and parabolic will ONLY RESUME upon breaking of ALL TIME HIGH. Until then, treat every rallies with CAUTION and use that opportunities to SELL or GET OUT. There are plenty of other opportunities in the market. Unfortunately, the risk reward payoff for gloves are no longer attractive versus some other stocks and sectors. Learn this. Understand this. If not, STAY AWAY from FINANCIAL MARKETS. Regards. P/S: Don't message me or don't comment. I don't read and not bother to read.
MYX:TOPGLOV
by UnknownUnicorn735418
1