Topglove Important Levels are RM 20 and RM 30
If Topglove rebounds from here and then it breaks below RM 20, the trend is OVER. Similarly, if Topglove manages to break above RM 30 and sustain, then it is still game on.
I have seen a lot of interest from retail Malaysians and even Singaporeans on this stock. People are speculating whether Topglove can become the biggest stock in Bursa and can overcome DBS marketcap.
Seeing all of these signs, the risk reward ratio in glove stocks are NO LONGER FAVOURABLE to me. I might put some capital to trade in and out but the MAJOR MOVES are over.
The major moves are when Topglove was breaking its all time high this year, before making 400-500% gain, before Careplus made 40x.
Market is always FORWARD LOOKING. When all these investment banks start giving crazy price target, you want to be careful. Yes, these companies are expanding, the demand for gloves are high but vaccine also in development. What will happen after vaccine has discovered, will demand remain high?
These are good companies, good for their dividends etc, but their valuation is not justifiable.
And most people don't understand how whales and smart money control and manipulate the market.
Feeling sorry for all the bagholders that one day will hold the bags. I have told all my acquintances to not touch the stock market if they don't understand it. I have done my part. The rest, I don't care. People are too stupid and greedy and dumb. Maybe they deserve to lose all their money after all.
Don't reach out to me.
Regards.
I have seen a lot of interest from retail Malaysians and even Singaporeans on this stock. People are speculating whether Topglove can become the biggest stock in Bursa and can overcome DBS marketcap.
Seeing all of these signs, the risk reward ratio in glove stocks are NO LONGER FAVOURABLE to me. I might put some capital to trade in and out but the MAJOR MOVES are over.
The major moves are when Topglove was breaking its all time high this year, before making 400-500% gain, before Careplus made 40x.
Market is always FORWARD LOOKING. When all these investment banks start giving crazy price target, you want to be careful. Yes, these companies are expanding, the demand for gloves are high but vaccine also in development. What will happen after vaccine has discovered, will demand remain high?
These are good companies, good for their dividends etc, but their valuation is not justifiable.
And most people don't understand how whales and smart money control and manipulate the market.
Feeling sorry for all the bagholders that one day will hold the bags. I have told all my acquintances to not touch the stock market if they don't understand it. I have done my part. The rest, I don't care. People are too stupid and greedy and dumb. Maybe they deserve to lose all their money after all.
Don't reach out to me.
Regards.
Penafian
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