Business profile. Careplus Group Berhad was listed on the ACE Market of Bursa Securities on 6 December 2010. It is engaged in manufacturing, processing, and trading gloves, including latex, nitrile, and vinyl gloves. It also provides other disposable protection products such as facemasks, respirators, gowns and caps. It has been in the glove business for over 20 years and is expanding its capacity to meet growing demands.
The stock is grossly oversold. Since 22 July 2015, share price tumbled circa 30% over 3 weeks. However, despite that sharp drop to grossly oversold territory, it was still able to hold above long term uptrend line, implying potential resumption of uptrend.
MACD GoldenCross signaling reversal. Daily MACD has triggered GoldenCross while RSI and Slow Stochastics suggested strong reversal signals. Reading from above indicators shows that share price is gaining buying momentum.
Coupled with a strong break above 100-hour SMA (RM0.43), we expect share price to move higher towards RM0.46 (38.2% FR), RM0.48 (50-d SMA) and RM0.51 (23.6% FR). Supports are pegged at RM0.43 and RM0.42, with cut loss below RM0.41.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....