AmInvest Research Reports
Stock on Radar - Top Glove Corporation (7113)
AmInvest
Publish date: Fri, 31 Jan 2020, 09:02 AM
AmInvest
0 9,057
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Top Glove Corporation rebounded from its low with high trading volume and may soon test the immediate resistance of RM5.92. With an RSI level above 70%, it is possible it may cross the resistance and climb towards RM6.18 followed by RM6.28. If it fails to close above RM5.92, expect a sideway movement. Support is anticipated at RM5.68, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM5.92
Target: RM6.18, RM6.28 (time frame: 3-6 weeks)
Exit: RM5.68
Source: AmInvest Research - 31 Jan 2020
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