Technical Analysis
I think the right question to ask right now is has Top Gloves bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area 6.11 - 6.40. I would like to treat Support/Resistance as an Area rather than a Line.
We could see further downside pressure if it breaks therefore cut loss is important. I used Low of the Strong Support 6.11 - 1 ATR (0.28 for the date i drew the graph) = 5.83 (My Stop Loss Point)
It is at a very crucial level now that bulls must protect.
Fundamentally Analysis
Top Glove FPE after next 2 quarters should be around FPE = 6.
TOPGLOV
Top Glove Expected upcoming quarter PAT is expected to reach around 3b PAT.
As the pandemic still ongoing, their high Profits margins will remain strong and intact at least for another 6-9 months.
For current price at major support and Low PE, the risks-to-rewards is favourable.
In all circumstances, there is always hope, lets hope Top Gloves to rebound !
I think the right question to ask right now is has Top Gloves bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area 6.11 - 6.40. I would like to treat Support/Resistance as an Area rather than a Line.
We could see further downside pressure if it breaks therefore cut loss is important. I used Low of the Strong Support 6.11 - 1 ATR (0.28 for the date i drew the graph) = 5.83 (My Stop Loss Point)
It is at a very crucial level now that bulls must protect.
Fundamentally Analysis
Top Glove FPE after next 2 quarters should be around FPE = 6.
TOPGLOVTop Glove Expected upcoming quarter PAT is expected to reach around 3b PAT.
As the pandemic still ongoing, their high Profits margins will remain strong and intact at least for another 6-9 months.
For current price at major support and Low PE, the risks-to-rewards is favourable.
In all circumstances, there is always hope, lets hope Top Gloves to rebound !
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