TOPGLOV trade ideas
Forecast MYX:TOPGLOVChart menunjukkan satu bearish pattern terbentuk iaitu ‘double top’. Double top merupakan salah satu reversal pattern yang agak reliable. Secara teori-nya, harga akan menaik sedikit ke atas sebelum membuat terjunan ke bawah.
Walau bagaimanapun, ini adalah analisis peribadi penulis. Sila berdagang mengikut pelan dagangan anda sendiri.
Trade at your own risk .
TopGlove?I will be looking forward to going Long at the red highlighted zone. Yes although the factories now are temporarily closed, it is expected that they will start with their operation in the next 2 to 3 weeks after the Quarantine period.
My criteria to go Long when it reached the Zone:
1) Dtosch/Stoch Crossing up
2) Low bearish volume with small CandleS / High Bearish volume but with no to little CandleS.
3) Followed by high volume of bull (optional cup with handle shape)
4) Bull CandleS close above 15MA
Additional: For Daytrader, You can use Daily TF for indication, H1 to look at the right location, and M15 to enter the position.
TOPGLOV - Game over?Everything with a beginning will have an end. The earlier we wake up to reality, the easier things will be. When things are pushed against us, it is always so much easier to ignore the hard, cold facts just to feed our ego. MYX:TOPGLOV has formed a weak trend on 19 Oct with a lower high and continually breached the EMAs, with a steep pullback. Expecting a rebound to RM7.50 thereabouts which will be a chance to get off before its too late.
Some might argue that it is a super good company with long term prospects. That's fine and all, but for me, I'd rather believe the evidences that is presented to me on the charts rather than some tall tales I found in somewhere by some analyst or bagholder. Anyone can say that it has good prospects and can get to the moon, but prices state otherwise. Whom will you trust?
I am in to make money, not to prove I am right. When I lose, I lose, admit it.
BearishAs mentioned earlier on Nov 4, Topglov is bearish. The infected workers are now the latest catalyst for expected bearish move. Breakaway gap zone from 4.1 to 3.8 could be the nest downside target.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
TOPGLOV - Bakal melonjak tinggiMembuat buy back its own share almost 1 billion sejak kejatuhan harga pasaran. Tindakan yang tidak bijak bak kata KYY tp pasti mereka ada its own reason berbuat demikian.
Dah terjadi Double Top dan Double Bottom dalam TF 1 week, pattern ini juga boleh dilihat di hampir semua kaunter2 glove yang lain.
Nampak seperti ini permulaan berlakunya trend reversal dan sudah pasti ia tidak mahu menoleh kebelakang lagi.
#SekadarKajian
#BukanBuycall
#TradeAtYourOwnRisk
TOPG (17/11/2020) short term up, long term downTOPGLOV has been trading on downtrend channel since a month ago.
With support zone of 6.45, it has a strong resistance at 7.65. Stochastic already showing an immediate upward momentum.There is a large gap of 8.0 - 8.5 which could potentially be filled if the price breakout the 7.65 resistance.
EP 7.00
SL 6.455
TP 7.625
RRR 1:1
Apart from successful vaccine trial news, other negative sentiment that could potentially bring the stock further down
EMCO at Top Glove dormitories: 3,550 workers to undergo Covid-19 tests Source TheEdge
TAYOR.
Topglove - Glove - Its the same thing over and over againIt seems like people will learn their lessons very hard and very hard indeed.
As someone who has spent their time in the market for the past 5-6 years and outsourcing most of my trading/investing to algorithm, I know with high certainty that gloves are near peak when everyone I know started asking about Topglove and glove stocks.
And then the justifications game begins, "But its a good company", "But the earnings will be good", bla3.
You guys don't understand the game yeah? Stock price moves in ANTICIPATION of good news ahead. Not AFTER good news. Usually stocks price will LEAD, not LAG behind fundamentals.
Is Top Glove good company? Yes. But Market timing is EVERYTHING.
You had the chance to buy early this year when Top Glove break out of its all time high. That was the BEST ENTRY. After that, things get MORE and MORE RISKY and the RISK REWARD ratio NO LONGER payoff.
At this point in time, get ready for some volatility and for more downside. The stock will rebound, most probably making a lower high. The bull market and parabolic will ONLY RESUME upon breaking of ALL TIME HIGH. Until then, treat every rallies with CAUTION and use that opportunities to SELL or GET OUT.
There are plenty of other opportunities in the market. Unfortunately, the risk reward payoff for gloves are no longer attractive versus some other stocks and sectors.
Learn this. Understand this. If not, STAY AWAY from FINANCIAL MARKETS.
Regards.
P/S: Don't message me or don't comment. I don't read and not bother to read.
TOPGLOV - TRADE PLAN "Trend Following"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.
Weak momentumTopglove is still unable to break ATH on Aug, followed with a formation of lower low on 10 Sept. There was a bearish momentum developed on MACD histogram since last Oct followed by two consecutive days close below MA50. Hence our view is still Bearish.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
