The price is expected to continue its down-selling pressure on mark-down phase with an immediate short term target price of RM5.3 which coincides with of previous rally.
The Star newspaper made a positive headline on Top Glove today. In a nutshell, the company is confident of robust demand over the next two years. This news may indicate a positive recurring income and super profit in the future with possible high dividend payout. Thus, it is foreseen that this current downtrend provides a golden opportunity to buy back the shares at a lower price in order to get more dividend entitlement as well as to increase the controlling power of the company.
Note: This trading idea is for education purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.