Topglov will sleep again?Profit taking may anticipate soon. Witness the sexy glove counter to rest for a period?
TOPGLOV trade ideas
TOPGLOV - Target revised lowerFollowing my 6 September post on this ticker, MYX:TOPGLOV has moved according to my prediction and is on track to reach the target. I have made some mistakes in estimating the target of RM2.30 earlier, but in this post, I have revised the target to around the RM2.00-RM1.80 region.
Good luck.
TOPGLOV: Downtrend continues?Back when MYX:TOPGLOV was trading at RM7.29, I posted and idea of a downtrend forming. People laughed.
After a few more other update posts, it is now trading below the RM1 mark. Expecting prices to tumble further if it manages to break below RM0.81.
Denial does not make the stock rebound. Why not trade what we see instead of what we think?
Topglove having head and shoulder pattern. 5/May/23.Topglove hitting major resistance @ 233 fibo ema with head and shoulder pattern.
Topglov - short rebound soon?Anticipated it might rebound soon.
And form a new LH n down?
Let's see.
Topglove probably having deep pullback toward 0.725. 24/March/23Topglove probably will have “deep pullback” toward 0.725 +/- where there is a major demand Zone PLUS/+ wave 2 (yellow) is a running flat pattern = abc ( green circled).
Topglove broke down trend line. ( yellow dotted). 21/March/23.Topglove’s Price will be trending up to 3.78 +/-.( a potential of 320% growth from current price).. Slightly “exceeding” the inducement/ stop hunting zone. (3.00)..Where FOMO ( fear or missing out) investors/traders will “stuck” again due to a “deep pullback “ of -50% toward 1.69+/-
Topglove forming a bullish triangle. 18/Feb/23.Topglove is forming a bullish triangle pattern abcde ( Red Circled).
Glove’s Index Demand Zone. 9/feb/23.“Custom made” glove’s Index chart demand Zone comprised of topglov, hartalega, Kossan, supermx
Topglov. How to spot demand Zone without any indicator. 8/Feb/23How to “spot” “Demand Zone” in any charts in any time frame with “naked eyes” without any indicators? An “AngPow/ free Gift” for you all after CNY. In this case I’m using topglov as example. Look for Group of 3 continuous bar, where bar 2 must be the biggest bar compare bar 1, 2 PLUS there must be a “gap” ( as shown on this white rectangle ) within the high of bar 1 and the low of bar 3 ( for the case on demand Zone). For the case of supply Zone it is “the reverse” sequence of demand Zone which shown on red rectangle in attached images.
TOPGLOVEHaven't seen a Bursa stock in a long time, top gloves share price since the end of 2020
It started to fall after my peak and so far it's down about 90%,
The downside is unacceptable, but it is what it is
When a bear trend is in progress, no matter who is long or short
There is no way to know when the bottom is, only technical analysis can tell
When is the opportunity to step in, the minimum risk for maximum profit is what individual investors should do,
Rather than spreading costs all the way from the top down, which is operationally inefficient and unnecessary,
Swapping money for shares at the same time is better than wasting time and money waiting for a short stock,
Two years of waiting for funds to be put to good use and performance to improve not to mention psychological stress.
# Observe Key points
Top from 29-9 appeared after the phase bottoming out rebound before the wave high pull back not to break the bottom of the low
20/12 form bottom, 6/1 finish bottom structure! Now how do I do that? I look at it, right
The key K interval of 27/12 is going to be effectively broken
It will still effectively break to the next gain or exit
The current structure is not the same as the structure in March 2021
The location of the price structure is vastly different
^^ Automatic translation by web
Top Glove (Put Your Mask On, Still?)Updated View On Top Glove (12 Jan 2023)
Follow our last analysis in 29 Jan 2021?
I hope you did,
Now, we are seeing a possible start of the healthly Uptrend? using $0.50 as a base.
We may see $1 or $1.255 region again.
Let's find out.
DYODD, all the best and read the disclaimer too.
Feel Free to "Follow", press "LIKE" "Comment".
Thank You!
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DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
price always return to EMA50..we can see in weekly TF.. it's been a long time since the price went up to touch the ema50.. I think it's time for the price to go up to touch the ema50 weekly time frame
TOPGLOV : Sign of markup intention from intraday Price & VolumeWe posted a pause of price fall on 17th Nov & waiting for rebound signals shows from big boys transaction data.
on 22nd Nov, stock prices are obviously maintained higher price at the 2nd half of the trading session. Although high volumes are created earlier in the morning indicating selling pressure, but the stock price didn't go down further. This shows a good bottom is forming.
Based on our view, we expecting a rebound will be coming in the next few trading days.
TOPGLOV Showing Sign of Short Term Bottomon 17th Nov 5 mins charts shows high volume with price maintained the same price level when is near to the end of the day.
This shows the sign of the price is bottoming soon. But continue to monitor for any sign of big boys' intention to mark the price higher later.
Take note : this shows the sign of short term price pause, any long term or mid term rebound will require to monitor the price & volume have any sign of longer term rebound.
Topglove possible 1 years + roadmap ahead . 20/Nov/22.For studies purpose only. Topglove possible next 1 years plus roadmaps..
TOPGLOV Short term view : Beware of retraceA recent price hike in TOPGLOV gives confidence to many long term holder on a rebound.
However, for anyone who are looking for average up their position or try to catch the price up might want to hold on to it first. Because the price movement shows signs of big boys getting ready to cash out fraction of their shares. (Same price & volume action we mentioned in our previous post on HARTA.)
From the price movement on 14th Nov shows the big boys are attracting buyers with high volume while price have little upside or moving sideways. You can view the image below for the 5mins price movement on 14th & 15th November.
(15th November) Today's intraday price movement starting to show sign of big boys selling shares lower to investors who park at the buy queue.
This is a sign of a short term retracement is on the way. Based on our view, it is better to stay aside & watch how far the retracement will go.
We continue to monitor the timing of the big boys done selling & start a new round of price up later.
Topglove. Glove’s “long term” gloom?!. 3/Nov/22So..JP Morgan “emphasize” again that glove’s industries will ONLY “fully” recover after 2026. But it doesn’t meant Mr. Glove can’t achieve his “Climax/ A.T.H ( All Time high) again after already “dropping his pants” so low. It just take “more time” to achieve “ Climax”..
Topglov. FOMO @ “bottom”? 31/Oct/22.Topglove probably @ its “temporary top” after surging up (38.02%) from last posted ideas. Many traders/investors might feel “the urge” as FOMO ( fear of missing out) “ the boat “..BUT its price might retrace -20.99% to around 0.640 { a confluence zone of 1) Demand Zone 2) lower trendline support of channel 3) Volume Profile’s P.O.C }..while waiting for FED rate decision or after Hartalega next quarter result on 9/Nov.
Strong Uptrend Pattern!The candlestick pattern indicates rising candlesticks methods, hence, a bullish continuation candlestick pattern that occurs in an uptrend towards the next price resistance. Backed by high-volume support the price continuous movement.
RSI indicates a fresh buying interest in the stock hence the oscillator graph above indexes 50. Thus confirming the price movement.
The OBV and MACD show a continuous uptrend and backed the price movement toward the next price resistance.
Precaution for a price correction between 10%-20% from the recent peak due to short position by the traders.
Let's save TOPGLOV in WL and watch out for significant price movement towards the MA50 line backed with volume.
R 0.780
S 0.630
Glove’s Index volume info graphic comprised of 4kings. 3/Oct/22This chart shown the average price ( index) of 4 major gloves manufacturers in the world which are Topglove, Hartalega, Kossan and Supermx where they “contribute “ almost half of the world’s gloves market. As said trend is our friends but without “volume” in stock market there is no trend. The “shifting” polarity of bull trend to bear trend all cause by “panic” buying ( climax)/ selling Climax probably due to FOMO ( fear of missing out) in uptrend and “fear of losing” ..due “borrowed money” which cause “margin call” in downtrend..
Topglove. JP Morgan’s TP May “failed” this time. 1/Oct/22Topglove. JP Morgan’s Projection of RM0.45 probably “failed” this time. As other 3 major player already posing a bullish reversal setup based on Elliott wave and cycle. Just waiting for “confirmation” signal. Topglove price has just broken RM0.605 a “confirmation signal “ +++ Price of weekly Topglove, kossan and monthly Harta has formed a hammer candle/ pin bar bullish pattern possible market “price in” A.S.P ( Average Selling Price) increment lead by Topglove as “catalyst” of the beginning of long term bull trend after long term “correction “ since August/Oct 2020..
