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

 

TOPGLOV (7113) & SUPERMX (7106) - Break New High Technical Analysis

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TOPGLOV (7113)

 

As of 3 July 2020, TOPGLOV has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. In addition, the price just broke the resistance of 18 reinforcing the bullishness in the recent price movement. Ideally one would like to see an increase in traded volume to demonstrate the enthusiasm of the traders to push the price past this technical resistance level. However, there was a decrease in the traded volume in this breakout. Hence it is important to monitor the immediate price volume action to ascertain the validity of this breakout.

 


SUPERMX (7106)

As of 3 July 2020, SUPERMX has been on a strong uptrend as suggested by the upward sloping 20-Day and 50-Day Moving Averages. In addition, the price just broke the resistance of 9 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.

 


 

Supermx have their own brand and can command better pricing of their products in the market. Unlike others, mainly OEM gloves producers.
Topglov is selected because of economy of scale and high utilisation rate of 95%. In 2021, the output is more than 100 billion gloves produced.



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