TOPGLOV Stock price may drop until around RM2.50 where there is a confluence zone of 1) Major Monthly Demand Zone 2) A Long Term Up Trend Line Support ( Cyan/Light Blue Dashed Line) ..BUT... Price most likely will complete wave A (Red Circled) at around RM3.20 AND start trending up for wave B (Red Circled) till around RM5.80 where is confluence zone of 1) Next...
Congratulation for those still holding TOPGLOV stock!!... TOPGLOV as 1 of the 30 "Blue Chips" stocks comprising KLCI index which has turned into Bullish Sentiment. What could be the next move of TOPGLOV , HARTA AND KOSSAN ?...All 3's which making the "major contribution" to KLCI index.. Checking from TOPGOV's intraday price structure.. TOPGLOV most likely on its...
Top Glove may find its next resistance zone at around RM4.90 in early August ( Maybe just "Before" US Next Stimulus Plan or "After" US None Farm Payroll Announcement"...
Whoever read "Fundamental News" knew That JP Morgan "Fair Price" for TopGlove is Rm 3.50.. Do we think that Mr. Market would help us making our bank account fatter easily by grabbing Rm3.50?! Probably Nope! It will "torture" us, testing the limits of our patience!!! Until we lost "our own belief"!
TOPGLOV Price may found its support at around RM3.90 where there will be a lower trend line support of the wedge pattern. Probably the end of wave (A) ( Cyan/ Light Blue )..The Next Major Resistance/ Supply Zone will be around RM 5.00 .
Top Glove Price may already reached wave (A) (Cyan/Light Blue). Probably its price range much shorter than wave (C)(Cyan/light blue)..Price may resuming its uptrend on Early / Mid July at around RM3.80 after forming wedge pattern
TOPGLOV might have a pull back toward around RM5.10 where there is a confluence "zone" of 1) Down Trend Line 2)200 EMA line of 4 hours 2) Next Supply Zone.. Before... Resuming its downtrend toward around Rm3.50
With geopolitical and economic issues, Should we "trace" Glove Stocks "Future Paths" with US Glove Stock ADR/OTC? or "Local" Health Care Index? which is Comprise ≈ A Quarter (28.5% ) ( 4 out of 14 Malaysia Health Care Index Stocks are Gloves Stocks)
TOPGLOV price might be forming a wedge pattern which is probably at its last phase of completion also developing as a triple zig zag wave pattern W,X,Y,X,Z( Red Circled ).. the Z wave probably will be reaching at around RM3.50 ( As what JP Morgan Predicted )..which is 1) the lower trend line of the wedge pattern and also 2) the weekly 200 EMA Support line 3)The...
Currently Malaysia Health Care Index Comprised most from Vaccines Stocks and Glove Stocks.. "The equilibrium" Forces might form a triangle pattern from its Volume-weighted average price...
TOPGLOVE last swing low forming a three drive and price have broken the upper line of wedge pattern as detail on the chart.. If Price didn't break new high by end of the year and ranging, there is a possibility to form a triangle pattern..
TOPGLOV
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.
With 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...
