Hartalega made a massive move today, followed by strong moves by Toglove as well.
This is what capital flow is all about.
You don't dismiss breakout of all time high. This breakout is significance as it is telling us that gloves can and have room to run, yet.
Which means that gloves can give a decent return and its bull market may not be over yet.
Based on...
Defensive mode is where you locked all your profits that you have made and you wait for that 30-40% pullback to buy and then sell in rebound.
No confirmation that the parabolic move will continue until a decisive breakout above previous all time high.
In this case, it will be better to be cautious, take profit and make the assumption that it is over.
It is too...
That nasty wick to the downside surely forced a lot of liquidations on people who are using margin or leverage to trade. Good for them. Hopefully they will go work as Grab driver or in McDonald. Oh yeah, I forgot we have that covid thing. Whatever. Good riddance.
Anyways, this is still going to up. After the wick, it made a new all time high. The momentum and...
