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Author: Deep   |   Latest post: Sat, 26 Sep 2020, 1:07 AM

 

TOPGLOV (7113) - Top Glove spent RM 354,738,027.11 in September for Share Buyback !!! Good or Bad?

Author: Deep   |  Publish date: Sat, 26 Sep 2020, 1:07 AM


 

(27th September: Updated Share Buyback figure)

According to the announcement, Top Glove spent around RM 354mil (RM 354,738,027.11) for Share Buyback in September from 9th to 23th. The share buyback price is between 6.120 to 8.01. The total share buyback amount is almost 30% of its last QR net profit (~RM 1.3bil).


There are some people said that Top Glove should not spend so much cash to buy back its own shares. They should use the cash to expand their business, give out as dividends to shareholders, pay bank loans, etc....

Instead of criticizing the share buyback action, we should think in another way round. Who knows Top Glove business better? -> Company director, market analyst or retailers? Why are they willing to spend so much cash to buy back stocks? What are the impacts of share buyback? 

Over the past few weeks, there are a lot members are asking about share buyback. We will write a report to answer above questions and explain the share buyback action. This report will be shared to the public members in our telegram channel during this weekend. (Limited number of report)

 



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Labels: TOPGLOV

TOPGLOV (7113) - Reversal Confirm !!!

Author: Deep   |  Publish date: Mon, 14 Sep 2020, 8:09 PM


Please read throught these post about TOPGLOVE:
1. https://klse.i3investor.com/blogs/bursatrade/2020-09-09-story-h1513408649-TOPGLOV_7113_Time_to_rebound.jsp

2. https://klse.i3investor.com/blogs/bursatrade/2020-09-12-story-h1513460321-TOPGLOV_7113_Another_wave_of_rising_or_just_a_rebound_for_escaping.jsp

 


Today TOPGLOV continue its bullish, prove to us, our decision is correct. When everyone is worried and selling their glove shares, we are the one to continue collect it at the lowest price and having more than 30% profit in just two trading days.

 

The strong support and resistance level of TOPGLOV are 6.5 and 9.76 respectively. In the previous post, we have mentioned its closing price on Friday is extremely nice but we need more confirmation to check whether it is just a rebound for escaping.

Today, the share price of TOPGLOV gap up open and close above the EMA-20 days. Based on our private group Technical Analysis Report, the share price of TOPGLOV is bullish now and the reversal is confirmed !!!

A lot of people start to ask "Can I buy gloves now ?",  my answer is: "We only buy when others are panic selling, when others are panic buying, we are selling to them".

Please remember Wednesday is holiday and the TOPGLOV QR will be released on Thursday. There might have some selling pressure during this time. Manage your risk well.
 



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TOPGLOV (7113) - Another wave of rising or just a rebound for escaping ?

Author: Deep   |  Publish date: Sat, 12 Sep 2020, 11:18 AM


As mentioned in this post: https://klse.i3investor.com/blogs/bursatrade/2020-09-09-story-h1513408649-TOPGLOV_7113_Time_to_rebound.jsp

TOPGLOV needs to rebound at its support level 7.13. Unfortunately, it broke its support on Thursday due to bad market sentiment and other external factors. If it broke its support level 7.13 without any rebound signal, it is end of uptrend and we need to quit from this stock.

Refer back to our group, we did not quit from TOPGLOVE but still collecting more at the lowest price, giving it three days to monitor before making the final decision. Friday, it proves to us we are correct. 

Friday closing price is extremely nice:

  • Above MA70
  • Smoothed RSI is showing oversold condition and having a technical rebound
  • Stochastic blue cut red below 20%


Friday is a strong technical rebound, next week is the time to confirm the next wave of rising or just a rebound for escaping.

 



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TOPGLOV (7113) - Time to rebound ?

Author: Deep   |  Publish date: Wed, 9 Sep 2020, 11:39 PM


 

  • TOPGLOV is trading near its support of 7.13. It is important to monitor the price volume action near this 7.13 level to determine whether this support level will hold.
  • Today, it did rebound near this support, a lot of big funds are coming in to support.
  • RSI is showing an oversold condition which may indicate that a rebound to the resistance of 9.76 may takes place.
  • No one can know whether this is the bottom or still will drop further. However, based on chart, it need to rebound at this point to continue its uptrend mode. The rebound should happen soon.

 

 


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MAYBANK (1155) - Time to collect bank stocks?

Author: Deep   |  Publish date: Mon, 31 Aug 2020, 1:43 AM


I believe a lot of people are trying to collect at least one bank stock in his/her portfolio. There are two different group of people, one thinks that the share price of bank stock is very cheap now, another one thinks that the share price of bank stocks will go further down in the future. 

So, is now the right timing to collect bank stocks? Let's look at the TA of the most popular bank stock: MAYBANK.

 


 

Technically, it is not looking good for MAYBANK.
1. 20-Day Moving Average is sloping downward and its price action is below the Moving Average line.
2. Bearish breakout of the support level of 7.4. This breakout was accompanied by a higher than average traded volume.
3. Its share price retraced more than 50% from its recent highest price.

Refer to the technical chart, it is still not the right timing to collect MAYBANK.


 


Do you want to know when should we start to collect MAYBANK? Instead of MAYBANK, what other bank stock we can collect?
 

Join our telegram channel to get the answer.

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CAREPLS (0163) - Monday, To buy or not to buy ?

Author: Deep   |  Publish date: Sat, 25 Jul 2020, 8:48 PM


Carepls has released very good Q2 2020 result and achieved profit after tax (PAT) of 20.8M after minus a one-off gain of 15.4M is not counted as profit from selling gloves.

This is a good news to all glove stocks and might push the market sentiment to gloves on Monday. Will the share prices of all gloves rise on Monday? 


Before proceed to the below technical analysis, please read below posts:

This post is shared on 29th May 2020, mentioning resistance breakout at 1.18 that served as a strong support to buy more!!
https://klse.i3investor.com/blogs/bursatrade/2020-05-29-story-h1507919134-CAREPLS_0163_Glove.jsp

T
his post is analyzing TOPGLOV, the share price movement on next week.
https://klse.i3investor.com/blogs/bursatrade/2020-07-24-story-h1510724506-TOPGLOV_7113_What_is_our_planning_The_share_price_will_rise_further.jsp

 


 

As of 24 July 2020, CAREPLS has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. The current best collection range is from RM 2.24 to RM 2.46. Depending on the market sentiment and news, CAREPLS and gloves might gap up open and go lower between 930am to 1030am. It might further rebound before the afternoon break session.

 


 

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Labels: CAREPLS

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