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TOP GLOVE

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TopGlove - Break or Bounce ? ----- Weekly chart ----- -Fast Turtle Sell triggered =FiFT positive but OB +ATOM still a BUY. ----- Daily chart ----- - First warning -> Fast Turtle Sell on 10 Aug - Second warning -> Slow Turtle Sell on 12 Aug and FiFT turned -ve. - Third warning -> 12 Aug Gap down remain open. - Broke EMA20 and sloping down. - Bear is closing previous bullish gap up. - FiFT turned -ve, FiFT are also -ve on H4, H1, M30 timeframe.. No sign of reversal YET. + Sign of Hidden Bullish Divergence if TG able to bounce from current support level (23.3 to 23.7) + Still above EMA50 - ATOM sell. ----- Summary ----- Bearish sentiment. TG is at Trendline and Key Fibo Support Levels (23.3 to 23.7). Break these support will expose to next major Support at 21.5 (EMA50) and 19.5. Plan to revisit if FiFT Bar > FiFT MA.
MYX:TOPGLOV
by kgiap123
4
Right place right time Read latest article here A follower from Malaysia wanted my 2cents opinion on this company, Top Glove Corporation Bhd. Here you go : It has risen more than 400% according to the article which I think is a little overbought judging from the parabolic moves it has made thus far. I expect the share price to have a correction to around 22.50. There, we would assess if it rebound upon touching the bullish trend line or break down from it. The latter option seems unlikely since the demand for rubber based products such as gloves, face masks are very much in demand globally. If you want to buy this shares, please be patient and not chase the sky high price. Let the price comes to you which it will, over time. It cannot goes up in a 90 degree angle forever, it has to take a breather somewhere..... Due to its huge market cap now, any up or down more in its share price will affect the performance of KLSE index . This is an important lesson for us as investors. In each crisis, there would be certain sectors in the stock market that would benefit from it. We have seen supermarket and/or ecommerce companies taking off in a big way during the pandemic, work from home software like Zoom, social media companies like FB, gaming firms like Tencents, food delivery companies like Meituan and many more. Another way to look at it are the troubled companies that make good shorting opportunities like Norwegian Cruise Line , Boeing . In a short time frame of a few months, we can actually build a portfolio of 5-6 companies that provide you with 200-400% returns. While not guaranteed, this method allows you to build up your capital base fairly quickly so that you can pile more into your stable , core stocks and ride the trend up.
MYX:TOPGLOVLong
by dchua1969
4
Topglove Important Levels are RM 20 and RM 30If 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 marketcap. Seeing all of these signs, the risk reward ratio in glove stocks are NO LONGER FAVOURABLE to me. I might put some capital to trade in and out but the MAJOR MOVES are over. The major moves are when Topglove was breaking its all time high this year, before making 400-500% gain, before Careplus made 40x. Market is always FORWARD LOOKING. When all these investment banks start giving crazy price target, you want to be careful. Yes, these companies are expanding, the demand for gloves are high but vaccine also in development. What will happen after vaccine has discovered, will demand remain high? These are good companies, good for their dividends etc, but their valuation is not justifiable. And most people don't understand how whales and smart money control and manipulate the market. Feeling sorry for all the bagholders that one day will hold the bags. I have told all my acquintances to not touch the stock market if they don't understand it. I have done my part. The rest, I don't care. People are too stupid and greedy and dumb. Maybe they deserve to lose all their money after all. Don't reach out to me. Regards.
MYX:TOPGLOV
by UnknownUnicorn735418
3
Topglov, was it the top Fibo line?Still can go higher? May be higher risk instead. If you are so keen to enter, may be just wait for hot money come back again. If you like my chart, just give me a LIKE, follow me and share it to your friend. :) Feel free to leave your comment, i will try my best to reply you. Disclaimer: Every stock analysis are purely for my personal learning and practice purpose. It is not for any buy or sell call to anyone. Everyone are responsible at your own trades. If you making money from my stock review, just donate portion to charity.
MYX:TOPGLOV
by JeremyTee_ws
TOPGLOV 1/8/2020Riding 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 consolidating and inching upwards with an oversold RSI in the 1 hour chart. Based on the indicator, it seems like its a good entry now. i am still optimistic about this counter and believe it may chart higher highs in the future because 1) Health care product demand continue to surge 2) Most 2nd and 3rd tier healthcare counters across the world just had a rally 3) Results are expected to be spectacular due to its sheer production capacity and product mix compared to others 4) Share Split proposal Hartalega QR will be out this week. If history will repeat itself, we will likely to see a sharp correction in the glove sector after the publication of Harta's quarterly report, just like the last one. This is only my observation, lets revisit next week and see if it happens. EP: RM24-RM25 TP: RM30-RM31 CL: RM22-RM23
MYX:TOPGLOVLong
by jasontkj
The Problems With Retail Traders/Most PeopleI always tell people, if you don't understand how market works, DO NOT EVER touch the financial market. Yes, it is easy to open brokerage account and trade stocks, but how many people know and understand how to do it. I have tried to educate people, but to my dismay, only 1% of my targeted audience are really serious in learning how to trade and invest properly, the rest are there just to play around and thinking that they can become rich easily. And so, I have lost hope in humanity and in most people. They can reach financial freedom if they try to learn how to trade and invest properly, but most of them WILL NEVER reach financial freedom because of their attitude. Therefore, the status quo will remain. Topglove is now the third largest company in the Malaysian stock market, bigger than Tenaga Nasional. For sure, now the price has gone far ahead of Fundamentals. Yes, this is a good company, great company with good dividends. But market never works that way. Sometime in the future the market will PUNISH people. And for those retail traders who FOMOed in and who thinks that they can get rich by buying shares in glove markers, get ready for the day of reckoning and get ready for the slaughtering. The party will not last forever. I have many of my friends who never invested in stocks who and those who have not trade stock for longtime suddenly came RUNNING to me asking me if it is good time to buy Topglove and glove shares. This is one of many sign that we are almost close to the peak in the glove makers. Maybe they can go up more, maybe Top Glove can be number one market cap stock in Bursa Malaysia. Maybe it can reach 200 Billion Ringgit market cap. I don't care. From risk management perspective, it is no longer something that is viable and something where I want to put majority of my capital on. It's time to take profit. it's time to reduce profit. And I told all of these people to just ignore the market, don't ever to try to chase a rally when you don't understand. The smart people or trader knows when to buy and when to sell, you always have the opportunities to buy breakout or dips, but chasing blindly is never a wise strategy. But again, parabolic move and bubble always happen, the easy way to make money is to buy early enough when the trend is shifting and when the breakout is just happening and to try to ride it out as much as possible. And to warn people not to chase the rally. Everything else, nothing much we can do. Securities Commission and Bursa Malaysia, its your responbility to educate the masses, not to encourage speculation. But I doubt they care. They are only for money. Regards. Don't message or comments, I don't read them.
MYX:TOPGLOVEducation
by UnknownUnicorn735418
4
TOPGLOV Hourly Chart Analysis on 12 July 2020TOPGLOV 1 Hour Chart: 7/12/2020 Support : 19.30 , 20.96 Resistance : Similar average volume with mid-end June but slightly higher. Momentum mostly maintained on positive side since 29-Jun. Currently it is above support uptrend line (white dotted line) At least hold on 20.96 or 19.30(more conservative) to maintain the current uptrend Based on the uptrend range (yellow line), the next short-term target might be around 23~23.10. You can send a private message or leave a comment if you are interested with the indicators shown. MYX:TOPGLOV
MYX:TOPGLOV
by ddddcplxx
1