BVA trade ideas
TOPGLOV - RSI Bullish DivergenceTOPGLOV
Theme: Glove
Rst: 5.00
Spp: 4.72
Resurgence of candlestick above critical support level 4.72, meaning RSI bullish divergence is kicking in their effect into Daily chart from 4H chart now. My expectation the effect shall last until middle BB area.
TOPGLOV - BULLISH IMPULSE SOONWith coronavirus outbreak in 2020, glove stocks have seen immense upside.
However, since August 2020 until now (April 2021) - it has been in a lengthy correction as if there's no hope left and uncertain whether or not glove stocks could still perform in the future.
Utilizing Elliott Wave Theory, it is likely that we are about to complete a Flat Correction (A-B-C) with Ending Diagonal.
Breaking above 5.520 will likely imply that the bottom is in, and we could easily see a conservative target of 10.00
This is purely from Technical Analysis perspective, disregarding its fundamentals.
no love for top glove
US CBP finds Top Glove products manufactured using convict, forced, indentured labour
TheEdge Mon, Mar 29, 2021 04:36pm - 3 hours ago
price will first test the support at 4.90, which it will most likely break. next, i expect a waterfall to the 3.50 region. this is the last line of defense. if broken, im afraid price might fall even further to 2+ region.
disclaimer: this is not a buy/sell call, but merely my personal opinion. always tayor.
TOPGLOV 300320215.260 SUPPORT become Resistance.
today market open gap down and break below RM5.
seeing next Support at 4.50.
expect some sideways movement if 4.50 able to hold.
break below 4.50 could visit 3.50.
Best Level to accumulateWith Dividends double to the next STI peer this is an outstanding stock to hold Medium (3 Quarters) to Long Term (3 Years)
TOPGLOVE - POSSIBLE BULLISH TREND REVERSALTopGlove - based on Elliott wave analysis, should have completed its wave ABC correction.
Prices are corrected from high of 9.765 to low of 4.65 (about 61.8% FIBO correction).
If further zoomed into the smaller timeframes of its recent price movements, prices have formed possible leading diagonal pattern, which indicates potential of reversal trend.
A possible bullish trend reversal stock to look to, monitor for higher high and higher low for further confirmation.
Happy trading!
TOPGLV 7113 MYX 1 Hour Momentum Breakout Study...based upon Volume Price Spread Analysis and Momentum
TOPGLV has shown breakout in Momentum in 1 Hour Timeframe
With Second Interim Dividend Ex-date (23 March) nearing, seems to indicate that funds are collecting.
Close: 5.38
EP: 5.27 - 5.48
SL: 4.73
TP: 5.83/6.11/6.50
Disclaimer: This study does not constitutes Buy/Sell per say. Please consult your financial advisor before making any trading/investing decision
Topglove - Up momentum resumeTopglove - Up momentum resume
Note: For Interested to subscribe the VT MCDX Smart Money Plus and learn Victor Trade System, and kindly contact owner
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
TopGlove time to buy??Short term failed to maintain uptrend line. Will need to wait for direction in coming weeks. Suppose to hold above 4.6 level.
Can monitor closely in coming weeks, looking to collect!
TopGlove down to Pre-Covid pricesIts highly possible that Top Glove and other glove shares could head down to pre-covid level and for top glove, this means price level around 2-3 Ringgit.
My reasoning being
1) from time perspective, the 2 peaks (Aug 7- Oct 19) are 73 days apart, then from the Oct 19 top to Jan 4 bottom is 77 days (could be 73 if not for the long weekend), then from Jan 4 to the earning date on Mar 18 is also 73 days - THIS IS TIME HARMONY in GANN.
I expect price to hit bottom around May 31 (which incidentally is another Gann seasonal date).
2) looking at how covid cases have dropped significantly around the world, the usage of gloves will be drastically reduced, likely pre-covid level.
3) Montlhly, weekly and daily swing all DOWN. Cummulative Selling volume also higher than buying.
Good luck. My personal opinion and not trading advice.
If short selling is available, i will be shorting it.
Top Glove- Bearish Trend ContinueBearish Trend for Glove Stock formed failing to break M-Mountain Top resistance.
MACD show clear divergence trend.
Candle has dropped below EMA20 .
EMA 20 crossing down below EMA 50.
Smart Money has slowly slipping out.
Immediate S1- 6.305
Immediate S2- 5.795
Immediate S3 - 4.475
TOPGLOV pull back or reversal?after days of sell down, finally see a potential rebound signal.
market open gap up, and closed above rm5.
first level to test = rm5.260
once break and close above 5.260, next level would be rm6.
fail to stay above 5.260 might continue its sell down.
note, this is counter trend trade.
price need to stay above rm6 for trend reversal.
TOPGLOV - Immediate Support Zone TOPGLOV - Immediate Support Zone (RM4.20-RM3.80), based on volume analysis
Note: For Interested to subscribe the VT MCDX Smart Money Plus and learn Victor Trade System, and kindly contact owner
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk
TOPGLOV double top TP at 2.50?since rm6 has been broken, if we based on double top projection, the potential TP is at RM2.50.
but ofcause, lets monitor while it on the way to rm2.50..
seeing interesting level at 4.50 , and 3.50.
no rebound price action, no action taken.
bearish bias.
TOPGLOV - Invert Scale for HODLers/TANKers Rubber glove stocks seem to be heading downhill currently, falling to the lowest points since the reverse of the strong upward trend in October.
Despite the slump in these glove stocks, I believe Top Glove offer some of the highest sustainable dividend yields in the world - the glove sector was an attractive sector for many years prior to the pandemic, and it will likely be even more attractive in the post-pandemic era.
I understand you think it is more to bear than bull at the moment. Trader you may cut loss.
For hodlers/tankers, we think it is very very undervalued and oversold. Investor stay strong and keep tanking. :)
At the end of the day, you THINK what you THINK.
Here's the chart for HODLers/TANKers, the rising wedge, PEACE!
TOPGLOV - Ready ? There's signed of making Higher High and Higher Low. Meaning, potential trend change to upward.
Price gapped up and managed to stay above EMA50 - It's a SIGN of bullish but BEAR is not giving up YET. (TURTLE Rainbow still RED). But still a good sign.
Price stay above EMA200 giving hope for long term investor to hold (If you are long term investor, EMA200 is your key support area).
FIFT spike few days ago and stay +VE. Meaning BULL is starting to gain control and getting stronger.
Bull starting to move above ATOM River but the river not yet expand.
MCDX Retailer % (GREEN BAR) has reduced to below 50%.. A good sign BUT BANKER % still below 25% (BANKER INTEREST STILL LOW BUT IMPROVE).
Meaning, YELLOW BAR still around 50%. That mean your fund might get trapped with BULL and BEAR fights
TG need to continue to stay above 6.7 (above EMA50 to be considered as bullish)...
TOP GLOVE MIGHT TOP OF THE GLOVE TABLE HEADING TO WAVE 5,AWAITING AT 5.80 SEN .IF BREAK THE DIAGONAL PATTERN ,COMPLETE THE CORRECTION 'D' WE CAN HOLD
