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Author: Deep   |   Latest post: Fri, 9 Oct 2020, 11:57 PM

 

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

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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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