Richkierich

TOPGLOV - Follow up, further downside expected

Short
MYX:TOPGLOV   TOP GLOVE CORPORATION BHD
Following up from my Nov 22, 2020 post, prices have trended significantly lower from then RM7.29 to close at RM3.72 today.

While prices seem to be temporary supported at the RM3.68 area, it is good to note that if this area gets broken on the downside, steep slide will be expected.

Good luck. Next area of support RM2.30.
Comment: The date is 15 Sep 21 today, and this ticker is trading at RM3.13 as at 11:50AM. As of now, prices look to be going according to my prediction and expected to fall further to the RM1.80 - RM2.00 region.

I made a mistake in calculating the target of RM2.30 earlier. Revised target would be 1.80-RM2.00 region. Good luck.