TOPGLOV - Elliott Wave Correction before further rise to ATH
Ever since TOPGLOV recorded new high at RM29.30, gloves counter has experienced a big selloff which rebounded back and created a lower high.
Thus, I believe it has created a wave correction and heading to RM20 before flying to another ALL TIME HIGH. :)
As you all can see, AmInvestment Bank has downgraded gloves sector. The negative article in Bloomberg which featured comments of a few early investors/reader also added salt to the injury.
KOSSAN has delivered record quarterly profit in 2Q recently, not forgetting SUPERMX record profit are not enough to keep the market rising.
Perhaps, share price are fully prices are fully valued at the moment. There are many conflicting views emerging like vaccines.
It should all come down to earning and nothing else as TOPGLOV next quarter result will be releasing on 17th September 2020.
Would that be the moment that gloves counter back to GREEN?
Thus, I believe it has created a wave correction and heading to RM20 before flying to another ALL TIME HIGH. :)
As you all can see, AmInvestment Bank has downgraded gloves sector. The negative article in Bloomberg which featured comments of a few early investors/reader also added salt to the injury.
KOSSAN has delivered record quarterly profit in 2Q recently, not forgetting SUPERMX record profit are not enough to keep the market rising.
Perhaps, share price are fully prices are fully valued at the moment. There are many conflicting views emerging like vaccines.
It should all come down to earning and nothing else as TOPGLOV next quarter result will be releasing on 17th September 2020.
Would that be the moment that gloves counter back to GREEN?