Upcoming 2 quarters should still deliver record high profits. High Fair Value price given by Analyst : 1) CGS-CIMB : 2.500 2) DBS-RESEARCH : 2.030 3) RHB INVEST : 2.730 4) UOB KAH HIAN : 2.990
Technical Analysis
I think the right question to ask right now is has Riverstone bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area. 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 1.06 - 1 ATR (0.07 for the date i drew the graph) = 0.99 (My Stop Loss Point)