SUPERMX - How Will It Reacts Tomorrow?#SUPERMX
Rst: 22.32
Spp: 20.64/ 19.33/ 18.40
The QR is exciting, but technical wise - today red candle confirms the stock fail to sustain at Fibo Ext 100% and shall risk further pullback.
SUPERMX trade ideas
Supermax, your show or IB show tomorrow?To be honest, i really dont like glove counter. But i cant stop that bull.
Can 30 be the real? It need to break the 24 first.
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SUPERMX - RM25 tomorrow?Highest price so far is RM24.44.
Due to;
1. On-going Covid19 battle the world is facing at
2. Superb quarterly report today (woah.. EPS RM30.58 vs RM1.15 same period previously, you never want to sell SUPERMX)
3. 1:1 bonus in September
will we see tomorrow RM25?
if Q4 report turns positive, will Supermx go up 17% ?After Q3 report released on 20-May, price went up 17.84% on 21-May 2020.
Supermax cup n handle pattern?Can supermax make a new all time high? currently TP price from RHB-OSK is 21.80, and sign of cup and handle is shown, can supermax make to rm20?
SUPERMX - will it make RM20 this week?Alphaindicator as reported by BursaMarketPlace still call it a BUY (yes 9 analysts call a buy).
Highest target target price as of 1/8/2020 is RM21.80.
Detail report:
www.bursamarketplace.com
SUPERMX - should we expect big bull next week?The price has been testing RM17 support for few days since Monday, but it looks like a very strong support for this week.
Covid19 threat has been giving indication that it might hit our country for the second time (no thanks to stubborn Malaysian who did not follow SOP & foreigners for bringing Covid19 to our country).
Outside Malaysia, (US, Australia, Philippines, etc) it did not get any better.
Eventhough MACD line looks like a crossdown will happen (this will confirm downtrend), but it can still deviate given heavy buy on Monday.
OBV still looking good, big investors still there.
Careplus declared big profit, the same or better is expected from Supermx.
Supermax Continue fly after vaccine Based on daily chart, the pattern is still on the upper BB, and in 15 mins chart the pattern has cross mid BB.
SuperMax- Malaysia Share marketEveryone in Malaysia is so hyped out about this stock where it appreciated so much. so what is going to happen is that those who think they have missed the opportunity will be buying at the highest price. these traders are called FOMO traders ( Fear of Missing Out).
Those who accumulated the stock at the lower price will be selling their stock to these FOMO traders at the highest price.
Price will eventually come down impulsively and attract more real buyers to bring the price higher.
MYX:Supermax may form Double TopSupermax may rebound and form a Double Top. The short stint drop down on 14 July was not supposed to be a surprised for Suoermax since it almost hit its highest targeted TP ie:around RM18 . List of Supermax official Target TP can be seen here
klse.i3investor.com
Though one may pointed out it actually a regional fund manager doing profit taking as it also affecting other glove counters in Malaysia and outside regionally.
So moving fwd Supermax may rebound a bit more than the last high dragging up all other 2nd liners to form their new high. Probably above rm 18 to instill confidence on 2nd liners running up. It is crucial here to get announcement of a new higher target TP from Analyst without which the price will then drop down together for a major retracement much lower to touch the middle Bollinger band at MA20.
Consolidating while waiting for a new revised higher official target TP from analyst for the price to move upwards. This is due to the fact Institutions will need those kind of official announcement internally or externally in order to warrant them to invest in the targeted counter
It may not happen that way and Supermax may continue Breakout the previous high with some other good news coming in.
Nevertheless it is better safe than sorry.
Good luck and trade a your own risk.
SUPERMX - Bearish RSI DivergenceSUPERMX
Rst: 16.50
Spp: 14.40
Bearish candle dived below upper BB with RSI bearish divergence taking effect, risk of further pull back is there.
Supermax using F SpinalNot sure whether i use this correctly, but it seems like the spinal can fit into the chart and give some guideline to the unknown territory purely TA.
SUPERMX - how high is high?Yesterday MYX:SUPERMX as expected by many, getting higher and closed at 15.98.
With Covid19 is still prime concern (eventhough many Malaysians think we are safe), there is no sign to show that why we should stop buying SUPERMX.
Some target price by analyst:
9/7/2020 Affin Hwang Capital - Target 13.90
7/7/2020 Kenanga - Target 14.00
both target already surpassed.
Latest Malaysian top investor Mr KYY make some comment with new TP of RM24.20 (he said this target is easily achievable).
Read here: klse.i3investor.com
So just enjoy the ride for the moment & don't forget to smile :)
Supermx 13/7/2020From past trends, likely to bounce upwards. That said, there's still a possibility of it filling the gap first
SUPERMX Hourly Chart Analysis on 12 July 2020SUPERMX 1 Hour Chart:
7/12/2020
Support : 10.88 , 13.04
Resistance :
Higher average volume than mid-end June
Momentum mostly remained on positive side since 29-Jun
Currently it is above support uptrend line 1 with level support at around 13.
At least hold on 13 to maintain the current uptrend and resistance can't be measured (keep breaking new high, no meaning to estimate resistance)
You can send a private message or leave a comment if you are interested with the indicators shown.
MYX:SUPERMX
SUPERMX - return of gloveThe much awaited return of rubber & glove sectors now happening, triggered by;
1. Second wave Covid19 in US & China
2. Feels good on short selling banning until year end
4. Sentiment on banking moratorium also until year end
MYX:SUPERMX looks good to test 8.05 or 8.20.
Happy trading.
SUPERMX Hourly Chart Analysis on 29 June 2020SUPERMX 1 Hour Chart:
6/29/2020
Support : 5.97, 6.75
Resistance : 7.70 , 8.05
It is absolutely a spectacular day for Glove counters today with a big candle cover up most of previous 2 weeks movement. SUPERMX hit and rebound from the previously-mentioned support level of 6.75 to 8.75 with most contribution on 2nd session.
The momentum turned positive on 10am onward and followed with the breakout of both downtrend resistance lines which make the open price of last hour candle(around 7.5) can be set as short-term support for SUPERMX to retest 8.05 within days.
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MYX:SUPERMX
MYX:Supermax hoping for Hammer candlestick next weekDue to last Friday DJIA -700 drop , we expect some sell down next week but we really hope for Hammer candlestick to form either on Monday or Tuesday for a positive technical rebound to happen at this critical support level.
SUPERMAX 21/6/2020*21st June Technical Idea*
SUPERMAX CORPORATION (Stock code: 7106)
After few day strong sell down, we see that supermax may found it base with engulfing chart pattern, long bias
but we are more confidence that when supermax able break 7.590 level then to challenge next high at 8.460 level, entry confirmation
This is a limit idea to wait opportunity come then participate the market with the momentum.
*Risk: High Risk*
*TP1: RM8.460*
*TP2: RM9.295*
*SL1: RM6.480*
*SL2: RM5.250*
*Risk Return Ratio:0.88x*
Strategy:
1)Glove counter is hot but expensive valuation. Is ok for high risk trader to take the opportunity.
2)Value investor may accumulate at every new low prices or demand zone as long as fundamental remain.
** we will not have any strategy strategy on structure warrant.
Supermx 19/6/2020 by Newbie Trading Channelsupermx 19/6/2020 7.600 area play as a small resistance here, it may sideway between 7.600 and 6.500 area before another upside here, 6.500 area play as a support right here.
