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TOP GLOVE CORPORATION BHDTOP GLOVE CORPORATION BHDTOP GLOVE CORPORATION BHD

TOP GLOVE CORPORATION BHD

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TOPGLOV trade ideas

Technical Breakout: Top Glove Corporation Berhad (7113)According to the chart, TOPGLOV had a resistance (R1) at 6.10 and a support (S1) at 4.70 before it completed a one year double top pattern on 28 Feb 2019. The completion of a double top signals the price is no longer rallying, and that lower prices are potentially forthcoming. The share broke below the support (S1) at 4.70 and closed at 4.54 with a volume of 16.53mil. Hence, the new support turned resistance is now at 4.70. The downside bias continues until the share trades above the 4.70 level. On the other hand, TOPGLOV also completed one shorter term chart pattern called bearish flag. A bearish flag pattern is constructed by a descending trend or bearish trend, followed by a pause in the trend line or consolidation zone. The bearish flag pattern comes after a strong move downwards. The stronger the move, the bigger the profit potential is. Based on this bearish, the share has an immediate price target (T1) of 4.02.
MYX:TOPGLOVShort
by Hazy3r
Lack of Interest by Smart Money in Top Glove3 Major Sign of Weaknesses you should spot using Volume Spread Analysis Method: 1. Up-Thrust at distribution stage 2. Confirmation / Beginning of Mark-Down stage with high volume Sell-Off bar 3. Lack of Interest by Smart Money with widespread upbar and low volume Send us your preference stock to review based on TradeVSA chart by comment at below. Disclaimer This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
MYX:TOPGLOVShort
by MartinTFWong
TOPGLOV - Inclusion in KLCI TOPGLOV managed to closed the big gap formed 3 months ago. Though 5.82 is a strong support formed at the Weekly chart, it might not respect it. We believe 5.55 would be a good entry and there is a strong rumors and reporting that the counter may be included in the index. >> Find us on Twitter. DISCLAIMER This presentation solely meant for information purpose and does not constitute as investment advice. We may or We may not take the trade that we presented. All estimates, projections, forecasts, expressions of opinion and other subjective judgments contained in the presentation are based on assumptions that considered to be reasonable. We are not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
MYX:TOPGLOVLong
by nicnyx1