Stay away. If you know head and shoulder pattern, you know this is not looking good. Perhaps one of the ugliest looking top tier glove chart at the moment. If things really go south for glove counters amid the vaccine discovery, harta may experience larger-than-peer drop.
JCY rebounded strongly upon dropping below its uptrend line. According to the fibonacci entrancement level, it managed to bounce back up upon touching/breaching the 0.595 level, demonstrating bullish sentiment still intact. Overall, from what i can see, i believe JCY's uptrend momentum still intact, especially after its strong retracement/rebound. I believe...
HARTA is not looking great from a Technical Analysis perspective at the moment. It will need break above 16.910 to regain the upward momentum. It will be even better if it can break above 18.480 to reverse its current downtrend and progress to an uptrend. If you are a short term investor, it may not be wise to long this counter now.
One of the superstars in the healthcare rally in recent months has shown some major weaknesses these few days. Today it came down hard, rebounded from its support line RM18 back on to its uptrend line (a weak one). From the indicators, it seems that retail sell down was behind the major correction (which is a good sign in my opinion). Should Supermx regain some...
Similar to other 2nd and 3rd tier healthcare counters who had gone through a few rounds of "limit up" last week, HLT has formed a head and shoulder pattern too. A hint that it may continue to retrace back to its pre-rally price. Be cautious!
Just like most glove counters, Kossan was caught by the heavy sell down this few days. As for as the major trend is concerned, it seems that KOSSAN is just resting on the uptrend support line. Will need to observe and see if it can bounce back up in the next few days.
Heavy profit taking ever since the release of their latest QR. This type of correction is not uncommon and nothing much to worry about..... for long term investors in my opinion. At the moment, it is still largely on an uptrend...If history will repeat itself, we should see a sustained period of sideways price movement before going up any higher.
UWC has been riding on a solid uptrend line. Almost every time when it touched the trend line, it immediately climbed back up and chart higher. After a few days of minor correction, it seems to be forming a ascending triangle.
DUFU is forming a pretty nice descending triangle patterns recently. Consistently supported by the 3.650 area. Almost always rebounded sharply once it touches that region. Will a same break out happen again? Lets see
EP: 3.650 - 3.660
Healthy upward trending counter. It has been consistently undergoing minor flag breakouts along the uptrend line. Would be good for short term trade if it can break above the immediate resistance 1.620 level.
Another attempt to break this major resistance level again. Breaking this 0.580 resistance level is crucial to keep investor momentum going and in order to chart higher highs and lows in the near future. Another major resistance level after that would be at 0.625 area. Will need to monitor first. Personally i think it is only worth entering if it breaks above 0.625.
Rising wedge triangle seen here with an overbough RSI. Potential sharp correction soon?
Healthcare equipment counters are piping hot nowadays due to the ongoing pandemic. However, there is always a chance that reality may not meet the expectation. Chart wise, hartalega, like most glove counters, it continues to chart high higher highs but it seems to me there may...
Riding on the healthcare demand theme, topglov's share price has risen significantly in the past few months. While many are doubting the sustainability of the valuation and the continuous rally, investors/operator interest in glove counters seemed to be unfazed, with new highs charted almost every week. Chart and indicator wise, it seems like topglove is...
Similar to most upstream oil players, it is showing a triangle formation. While it is clear the low highers have been forming over the past few weeks, it is not so clear about the lower lows.
Weak economic sentiment and poor investor confidence in O&G since the crash ( in late april) will be a driving factor to determine the price for these counters.