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TOP GLOVE CORPORATION BHDTOP GLOVE CORPORATION BHDTOP GLOVE CORPORATION BHD

TOP GLOVE CORPORATION BHD

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TOPGLOV trade ideas

TOPGLOV - Bakal NGETOPP AgainEntry Strategy: 1) Jump in and ride now at 5.25 2) Wait for retracement and entry at psychological round number 5.00 Chart: 1) Stellar performance in 2020 2) Start to decline once completed triple-TOP formation (Oct 2020) 3) Already 5 months from declination start, potential for reversal of down trend Sentiment: 1) Covid vaccine 2) Economy to stay open even during pandemic 3) Good dividend payout I am nubis, i am non-premium members..follow if you think this idea make sense..just sit back, relax and moke some money. -Heil_Z- # Are-snuff Traders Club # Bilis Traders Group
MYX:TOPGLOVLong
by Heil_Z
TOPGLOV : the return of bulls? (Short term - Wave analysis)We recently received a question from a follower regarding our previous wave analysis on TOPGLOV posted on 25/04/2021 as to whether wave (ii) has completed. We did another wave counting today on a 1hr chart and found out that TOPGLOV is working its way down to complete wave a of a larger degree wave (ii) which means the correction has not ended. On the 6th of May we saw a gap down in price which could be a measuring gap signaling that the down move is still halfway from its end. Although on a daily bar chart we see an outside day closing (not shown here, please refer to daily chart), the bar failed to close beyond the upper border of the gap which now acts as a resistance. This implies that the downtrend is still intact and price is not ready to reverse. The low of the current pullback is resting on 61.8% fib retracement level from the length of wave (i) which could act as support. Provided our wave counting is correct, we are cautiously bearish on the short term outlook of TOPGLOV. We would exercise patience and let the correction run its course first before drawing conclusions. However, we do not dismiss the possibility of a move higher after wave (ii) is completed and thus will continue to monitor this stock for signs of bottoming. Nevertheless, our analysis is void if the retracement moves beyond 100% of wave (i) in which one of Elliot's rules has been broken: wave 2 never moves beyond the start of wave 1.
MYX:TOPGLOV
by afiz_285
1
A comeback or a bull trap?BUY - Looks like a healthy uptrend but confirmation is needed at around 6.00 – better entry at 6.00 with sufficient volume - Bullish flag and breakout at 5.45 - Beware of multiple resistance up north SELL - Sell when it breaks the current steep trendline – high chance of consolidate to form a Stage 1/base RATIONALE - COVID-19 seems doing a comeback and healthcare related sector is roaring back to life? - There are multiple necklines to be broken though since double top happened in last October 2020 - Support is at around 4.65 but it can be broken anytime just like the previous one at 6.15 - Swing traders might do well to catch the trends - Long term traders/investors/those who picked it up at high price – CUT LOSS – to find better chances as it is on a long term downtrend - Value investing with a paper loss is a waste of the most valuable commodity – TIME **this analysis is solely for my own references and learning
MYX:TOPGLOV
by 0e8f8b19869e43618744fd693f2bd6
5
TOPGLOV : the return of bulls ? (Trend analysis)While TOPGLOV appears to be in a downtrend since October 2020, recent rebound raises a lot of questions whether the rally would sustain. A few things we've noticed here on the chart which are: - A tentative downtrendline has been broken - Positive divergence in RSI - An inverted H&S pattern (however, rally volume seems diminishing after breaking the neckline) - Price broke and stays above MA 50 - MA cross appears overstretched and still in sell mode - Nearest support at neckline area around RM5.40 - Nearest resistance at RM6.00 From our analysis, we are cautiously bullish on TOPGLOV at least in the short term. To increase the bullish bias, we would like to see a break above RM7.00 level which is the MA 200 and a previously consolidation area which might prove to be a difficult resistance to break. A breakdown below March's 2021 low at RM4.45 however would change our view
MYX:TOPGLOV
by afiz_285
FA or TA PROS: - Best FA among rubber glove companies - Glove demand growth: New waves of Covid infections loom globally CONS: - Vaccination rollout - Competition from China: Government incentive+advanced technology+cheap cost+ramping up production - Oversupply risk: New gloves players - Labor allegation/US banned and etc ***TA always win shoooo ignore the above 1)Guppy's Rainbow Guppy's Rainbow showed bearish trend as the candle stick is still below the white line (LT) and blue line (MT) Long Entry would be triggered once all short-term EMA’s above the long-term EMA’s. Trading Rules: Long Trade: RED > YELLOW > Blue > White Short Trade: White > Blue > Yellow > Red Once it breaks the BLUE EMA'S might be a good sign 2) Pivot Points Smart Money Indicator Green=Retailers Yellow=Floating positon Red tiang=Smart Money=Big positions, which always tend to impact price movement. At the moment, no buyer's momentum detected yet which is not favorable. PS: Small-cap glove stocks delivered even better share price gains with better TA ie: Comfort Gloves
MYX:TOPGLOV
by Jiayen_Lio
TOPGLOV : One last rideTOPGLOV is seen to undergoing a corrective phase of wave 4 after an explosive move of a very long extension in wave 3. The fact that wave 3 has been so powerful and very extended, we would take a conservative view that the next coming Wave 5 might be truncated and not be able to break its previous all time high. Our view might change if it turns out otherwise. The bullrun in TOPGLOV in our opinion is past its youth and nearing its peak. We stand with a cautiously bullish view on TOPGLOV long term wise.
MYX:TOPGLOV
by afiz_285
TOPGLOV : the return of bulls ? (Wave analysis)We are in a view that the correction in TOPGLOV has come to an end after it completed a zig zag corrective pattern on early of April while recent movement is suggestive that TOPGLOV is trying to form a leading diagonal form of wave (i) which in most cases will result in a throw over followed by a sharp and deep pullback in wave (ii). Nearest support seen is around RM5 area followed by RM4.65 area. We would however wait abit more to confirm the accuracy of our wave analysis. If our analysis is correct though, we might see the start of a new fresh bull market (Wave 5)
MYX:TOPGLOV
by afiz_285
EASY123 Prediction @MYX TOPGLOVEINI KALI KE? Prediction: Bottom Reversal (MACD divergence versus Price action) Rally when it stands above 5.52 Target Price: R1=5.80-6.00, R2=6.50-6.80, R3=7.10-7.70 Support/Cut Loss: S1=4.45 Signals: *Candle has turned from Red to Blue color on 15-Apr, an indication of a trend reversal. *Price comes to the Bull/Bear Divider (Redline) to test the resistance. *Green-upward triangle appeared on 31-Marn, an indication of potential Bottom. *Yellow-diamond appeared on 01-Apr, an indication of a potential Bottom reversal. *Disclaimer: This is not a Buy or Sell suggestion but solely sharing the information...Trade at your own risk. *Preference Strategy: Swing trading (Follow the BUY/SELL Signal respectively). *Reminder TP & CL is an individual preference & decision. No fixed rule or guideline for it. Signal's Interpretation: ENTRY Signal:- *BT-Yellow-Diamond = Bottom reversal signal. *Green-Upward-Triangle = Potentially a Bottom signal. *Green-Dot = U-Turn entry point signal. *Blue-Candle = Market at Uptrend sentiment. *Candle color changed from RED to BLUE & Candle closed "ABOVE" the Bull/Bear Divider (Redline). EXIST Signal:- *Red-Dot = Potentially a Top signal. *Yellow-Dot = Potentially a Top signal. *Red-Candle = Market at Downtrend sentiment. *Candle color changed from BLUE to RED & Candle closed "BELOW" the Bull/Bear Divider (Redline)
MYX:TOPGLOVLong
by Simply_Is_Beauty