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)
price broke above ema 50 n 200. downtrend line broken. everyone happy? gloves can fly? personally i don't think so. mcdx not showing any red chips n banker mountain is very high. i think this will end up as a false breakout. so, pls be cautious. no need to 100% believe in me, ok? tayor.
The weakest chart pattern among all the sectors. Market are looking forward for recovery sector after arrival of vaccine now.
Always remember our motif here is gain profit through investment, not to prove how much you support the company. It is not football match.
Leading indicators and shall be used with other indicators to qualify or disqualify trades.
Why I'm using these two fibs in this analysis..?
1) FIbs Retracement - where to enter the market at discounted price.
2) Fibs Extension - where to exit the market at the highest probability prior to reversal.
What we can see from this chart?
- price actions in...
Avoid sideways market.
Ride exponential and trending market.
Find opportunities when trend is about to change. Get into the market at the beginning of the trend.
Ride it all the way up until the trend changes.
Take some profit off.
Rotate capital from Large Cap to Mid Cap to Small Cap.
Don't fall in love with any asset or stocks or names or...
Just the matter of months we'll see a good upside on healthcare index
A bull penance has been formed
By next year January we might see a good bullrun on healthcare stocks..
Healthcare points has been consolidation in this pennant showing a good sign that the uptrend might continue
Gloves(Topglove, supermx....) hodlers will benefit from this as many has...