As we can see, the candles have never been able to close past the 0.625 price point since 7/9/20. If we have a look at the monthly chart, we will see a big bull candle which we can mark as the anchor of the rally, aka dominant/anchor candle. During early January, a bullish engulfing was formed at the 0.635 price point on the weekly timeframe, followed by a retest...
Since 04-Jan-2021, Malaysia Big-4 Gloves Counters namely: TOPGLOVE, HARTALEGA, SUPERMAX, KOSSAN, being heavily shorted. 40mil Topglov shares were lended out by EPF under SBL to shorties to short. RSS sold volumes for today from 9:00 am to 5:00 pm: 1) TopGlove 2,442,000 shares 2) Hartalega 265,400 shares 3) SuperMax 264,600 shares 4) Kossan 0 shares The price is...
Updated View On Top Glove (10 Jan 2021) Did you read our previous analysis of 17 Aug 2020, on the Top Glove? (I will put the link of the prev post below) It went down to $6.5 as expected. Now. Listen. Something BIG happened in 04 Jan 2021. It could be the potential trend changer and the pullback of Oct 2020-Jan 2021 may be over. For the starter, $6.8 will be...
KUALA LUMPUR (Jan 21): Top Glove Corp Bhd said its annual rubber glove production capacity had reached 91 billion pieces as at January 2021 as demand for gloves continued to be strong despite the availability of vaccines to curb the Covid-19 pandemic. Looking ahead, Top Glove said the targeted annual production capacity of 110 billion pieces of gloves by December...
The stock might be ready to go up again. As shown in the daily chart attached, there might be an inverted H&S is the work. This is still early days since price is still below the neckline. However technically it is interesting to go long now. Initial target is at 7.60 with potential for it to go a lot higher. fb.com
Weak Traders without patient might be washout.. in long delaying "re-accumulation" stages...
Detail @ The Chart
Topglov results beat all sell-side consensus. As shown, TopGlov issue is never about fundamentals and earnings. Their problem has been the PR/Corporate image impact due to Covid-19 and the labor issue. After declaring a quarterly dividend, at the current price, the yield is around 2.3%, what's next!? Perhaps, Christmas rally or CNY Ang Pao? HAHAHAA :) Not a buy...
Detail @ The Chart
Detail @ The Chart
Just ignore the current vaccine news because the trend is your friend! Unless RM6 is broken which indicates M-shape trending since June 2020. Good opportunity to load some around the current level and RM6 level. In other words, "Buy on Dip" with good risk vs reward opportunity. Take care, stay safe everyone.
TOPGLOV Rst: MA50 Spp: 7.84/ 6.74 Softening further from MA50 trendline, with red candle emerged below lower BB, further downside is on its way, don't forget double top formation is now back to haunt the stock. Stay away for good.
Cuba cari entry kalau minat sementara diskaun ni. Beli dekat paras support cantik juga tu... Menarik untuk diperhatikan minggu depan.
TOPGLOV Rst: 9.62 Spp: MA50 Significant sign of weakening, double top formation is charging, immediate support observable right at MA50. Expecting further weakness to spell as both RSI MACD bearish divergence are taking their impact now.
Detail @ The Chart