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Author: sparta   |   Latest post: Mon, 16 Nov 2020, 2:08 AM

 

GLOVES : MY LATEST THOUGHTS TO BUY OR TO SELL!

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30th October 2020

 

GLOVES : MY LATEST THOUGHTS TO BUY OR TO SELL!

 

LATEST TARGET PRICE ( Revised ):-

 
HARTA = RM20.00
TOPGLOV = RM12.00
SUPERMX = RM12.00
KOSSAN = RM10.00

(* All above immediate (IMD) target price for November - December due to Political uncertainty)

 

My currently Top Pick  is " HARTA " for short-term.

 

Nowdays investors or traders are so confused and did not know what to do with their holding especially Gloves stocks. Also we can see every novice even sold their holdings and thought they were so lucky and brilliant moved. Some of day traders bought and sold to make some of small money only. My view, nothing is wrong to sell it. It is a good move when we see money and take money. 

 

 

BM Health Care Index - Very good on the chart. Uptrend and the move just stay on the moving average support line. If tomorrow and next week still move like this trend. It going to break the resistance point 4303 soon.

 

 

BIG-FOUR GLOVES :

 

 

 

TOPGLOV - At last it closed and stay on the moving average support line. 
 
Support found on : 
1st RM8.56
2nd RM8.00
 
Overall, the chart still need to monitor to confirm the direction. Likely to move up trend after the accumulation.

 

 

HARTALEGA - Look like it going to have another round to move higher. Monitor for this few days once the accumulation is done enough. It can move higher. Do take note on the support level RM17.25 if this counter still available if come down to this level for accumulation.

 

 

SUPERMAX - Closed and stay above the moving average support line. Is a healthy one.
But still need to take note on it's support. 
 
The support level
1st RM9.40
2nd RM8.30
 
Overall, the chart still good and accumulation is in progress to move up.

 

 

KOSSAN - Accumulation still in progress. As long as it does not break RM7.30. Likely it will move higher. Look healthy on this pattern just matter of time to move up.

 

 

I went through Harta, Supermx results and there is nothing to doubt about it.  The ASPs continue to rise massively due to overwhelming demand.  All of them are now billionaires, and the benefit extends to even workers who are rewarded good ESOS, dividends, all included!  From a fundamental standpoint, there is no problem for long-term investors.  Their loyalty will be rewarded soon as they do not invest only for 1-2 yrs, but more than 5 yrs.  The next 1-2 quarters should see more stellar results. 
 
 
Furthermore, because of the winter season, there is a higher possibility the infection cases can double.  As extraordinary demand for gloves continue to outstrip supply, we can reasonably expect the glovemakers to rake in RM 21-22 billion revenue from exports of gloves this year in line with the 20-25% y-o-y growth for worldwide demand in gloves reaching 330 to 350 billion FY20.  The biggest winners for glove players now are investors, and the biggest losers since the start of the pandemic are actually traders. Traders can win big on warrants and but they can also lose the most.
 
 
Well, that said, although our country depressing political drama continues and seem to be never ending until a next GE, there is no direct correlation at all to the healthcare industry.  Gloves will continue to be in play, with possible fresh rally upwards, notwithstanding fluctuations and big volatility related to market uncertainty caused by our foolish politicians. 
 
Global equity and currency volatility shot higher yesterday reflecting fears of shutdowns, the US election, and resurgent Covid cases which could tip markets back into the sort of chaos endured earlier this year in March.  Gloves will see up or down spikes at the time when people are conquered most by emotion, frustration and out of control loss cuts. 
 
 
For now, there are only growing signs that Covid-19 cases will continue to spiral up in US & EU because of the winter season and the US campaign elections.  As for the UK, the Govt has been urged since JULY to use the next 2 months to make intense preparations for a potential second wave of Covid for the winter.  So, we’ll just have to wait and see how well their plans work.  
 
My rating on gloves and healthcare "BUY".  
 
 
May the odds be in your favor.
 

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If you would like to know more about Kim's Group Trader (KGT) and Kim's Investment Club (KIC). You may reach out to us via link above. 
 
 
Best Regards,
 
KIM 
 

 


Disclaimers: The research, information and financial opinions expressed in this article are purely for information and educational purpose only. We do not make any recommendation for the intention of trading purposes nor is it an advice to trade. Although best efforts are made to ensure that all information is accurate and up to date, occasionally errors and misprints may occur which are unintentional. It would help if you did not rely upon the material and information. We will not be liable for any false, inaccurate, incomplete information and losses or damages suffered from your action. It would be best if you did your own research to make your personal investment decisions wisely or consult your investment advisor.

 

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