Recent 200-MA breakout is above the long term trendline of downtrend. With a combination Higher High and Lower low, I predict that another 200-MA breakout will change into an uptrend.
I'm still learning, feel free to correct me or give your own opinion. Thanks.
We charted the percentage gain since 1st January 2020 till today for 1st tier glove and 2nd tier glove stocks. We use % scale so we could see how much % it has gained. We also include the healthcare sector RSI 14 to show the sector momentum. We also added few key dates
18/3/2020 MCO1.0 started
1/7/2020 Malaysia covid down to 1 case
9/11/2020 Pfizer claims...
Glove counters in Bursa Malaysia have seen the selling pressure since the development of vaccine news. CAREPLS is in much immense pressure since the P/E ratio is at the high side (P/E = 45) as of 18 Nov 2020 compares to the other big counterparts (Topglove, Supermax, Hartalega etc.)
We may see the price to go as low as RM1.90, that becomes the long term support...
-Today there are 432 new cases of covid19 in our country. This is the record breaking figure compared to previous high of 315 on 16th March 2020.
-Are we battling covid19 part 2 which is stronger in nature? Or is it just we as human who always take for granted and neglect the SOP and getting loose on everything.
-nearest resistance at 3.80 and if broken we will be...
Why?
From many angle, it just look real good.
Management - the profit is good, company opening new plant, better treatment to staff, booking is ahead of production
Investors - look at the OBV, it keeps increasing. Price might fluctuate but OBV indicate how the investors still keeping their trust.
Global pandemic - don't look far, in Malaysia yesterday already...
CAREPLS
Rst: 3.53
Spp: 2.88
Another strong candle penetrated above Fibo Ext 100% but upside likely be limited by level close to middle BB to 161.8% at 3.53.
An attempt for 2W forecast, assuming nothing funny happen in between.
The best price we have witnessed so far is 5.83, and our recent close is 2.51.
Considering weekly ATR at 0.70, should we expect 3.20 for next Friday, and then 3.90 for the next. Thats for the whole 2 weeks.
5.83 or better again? Might not be so soon.
Anyway we are still battling Covid19 and the...
#CAREPLS
Rst: 4
Spp: 3.53
Careful for those riding smaller glove counterparts, significant weakness observable even the selling pressure is low, if coming candle progresses to violate middle BB, that's gonna be very bad.
#CAREPLS
Rst: 3.54
Spp: 2.88
Doji candlestick, even it rose above upper BB with surging indicators, but I think the surge has spoiled the healthy formation of the stock, require to back-test level at 2.88, if can sustain here, will continue its upward swing.
Take a look at the almost identical chart pattern for MYX:COMFORT , MYX:CAREPLS , MYX:SUPERMX & MYX:TOPGLOV .
If we have to choose only 1 from among this 4, which one should be better option?
I will choose MYX:COMFORT due to headroom between lowest low in downtrend and highest high prior to selloff last week.
COMFORT : 48% to go.
CAREPLS: 34% to...
Carepls dijangka membuat final push untuk wave 5 dan dijangka berlaku truncation (harga tidak akan melebihi wave 3).
Ini disokong oleh wave 3 yang sangat panjang iaitu antara syarat berlaku truncation.
Correction wave 4 telah membentuk expanded triangle dengan wave E telah overshot trendline A-C.
