Koon Yew Yin's Blog
Supermax price chart is down trend - Koon Yew Yin
Koon Yew Yin
Publish date: Fri, 18 Dec 2020, 10:50 AM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
The Supermax price chart below shows that on 30th November, it started to drop from Rm 9.10 to close at Rm 6.90 yesterday. It dropped Rm 2.20 or 24% within 2 weeks while the demand for gloves is still surging. The chart shows that it is on a down trend. The question is whether it will continue to drop or not. I wish I have a crystal ball to be able to tell the future.
Why investors are selling?
UK and US are starting to inject vaccines to their citizens to prevent the spread of the coronavirus. Many investors are selling because they believe the vaccine will reduce the demand for glove.
Another reason could be the big investors are purposely pushing down the price so that they can buy back at cheaper prices.
Serious long-term investors
Why should it continue to drop when it reported EPS 30.58 sen for the quarter ending September? It made 100% more than its previous quarter. Its profit for its 2nd quarter, ending December should be another new record high. The company will most likely make the announcement in Mid-January.
Most serious long-term investors would not sell because the demand for glove is still surging and all glove makers can easily increase their selling price to make more and more profit. But, if they sold earlier at higher prices, they would be holding a lot of cash to buy back at cheaper price to make more money.
Chart believers
All chart believers sold and they are now cash rich. They are waiting for the price to drop to the rock bottom so that they can buy back at cheaper prices.
The point I want to make is that investors must strictly follow the price chart to make more money. The chart is more important than the financial analysis.
I would like to suggest that if you did not sell earlier at higher prices, you should not sell now because I believe the price is very near its bottom. Moreover, the company will announce its next quarter result soon.
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Discussions
1 person likes this. Showing 28 of 28 comments
Running out of idea.
Posted by Ricky Yeo > Dec 18, 2020 11:23 AM | Report Abuse
"The chart is more important than the financial analysis."
"you should not sell now because I believe the price is very near its bottom."
If chart is more important, that means investors should sell based on the chart now. But then you're asking people not to sell because the earnings are good. How like that
2020-12-06 20:33
Mr market is more powerful than any individual, no matter how influential he/she is or how hard he is promoting it.
2020-12-18 11:46
Uncle, if you believe that it is now near the bottom, why not buy more here? Will surely fatt tatt kaw kaw soon!!!
2020-12-18 11:49
Uncle said: "Sorry guys, I already finished my bullet, because I am against the chart, so I buy all the way from RM10 to RM6.XX. Now I need you all to continue buy to support, otherwise I may kena margin call.. Please help .... support support...."
2020-12-18 12:24
Comparing Spanish H1N1 and covid are like comparing orange with apple.
You cannot produce vaccine this fast 100 years ago.
2020-12-18 12:51
I disagree.
I believe charting is as important as financial analysis.
Using both method yielded impressive results for me.
2020-12-18 14:03
Goldberg BREAKING NEWS- SUPERMAX MAY GET UPGRADED TO- FTSE ALL WORLD INDEX
The STAR
Supermax may get upgraded to FTSE All World Index
BUSINESS
Friday, 18 Dec 2020
Supermax will replace KLCC in the 30-stock KLCI as expected on Monday.
KUALA LUMPUR: Glove maker Supermax Corporation may get upgraded to FTSE All World Index from FTSE Global All Cap Index, acording to a news report.
THE BEST GROWTH STOCK IN BURSA.
FTSE All-World index
FTSE All-World index series is a stock market index that covers over 3,100 companies in 47 countries starting in 1986.It is calculated and published by the FTSE Group, a wholly owned subsidiary of the London Stock Exchange which originated as a joint venture between the Financial Times and the London Stock Exchange.
History
This index has been calculated since 31 December 1986, originally as the FT-Actuaries World Indices.[3]
In 1995, Wood Mackenzie and Co., one of the original partners, sold its stake to Standard & Poor’s. The name of the index was changed to FT/S&P – Actuaries World Indices.
On 29 November 1999, FTSE International Limited acquired the stakes of Goldman Sachs and Standard & Poor’s. The name changed to the FTSE World Index series.
FTSE took exclusive rights to integrate the Baring Emerging Markets data series with its existing FTSE World Index series. This resulted in the creation of the FTSE All-World Index series on June 30, 2000.
On September 22, 2003, FTSE introduced enhancements to improve the coverage of mid cap stocks in the index and remove some smaller stocks. In line with these enhancements, FTSE also launched the FTSE Global Equity Index Series.
2020-12-18 14:20
Good time to diversify some of your glove into recovery stocks. Having said that, I still have faith in gloves stock and still maintain big portion in my portfolio.
2020-12-18 15:09
I don't believe in charts or financial analyses. I believe in uncle ky only.... Just do the opposite from him, can make more than following him.
Thanks uncle
2020-12-18 17:49
last few articles he ridiculed chartists for believing in charts, now he said investors must strictly follow charts? no longer his golden rules? ....
2020-12-18 19:37
Tg and super seems to loose steam and approaching 6,if break through 5 is next
2020-12-18 19:57
Self proclaimed super investor is learning the hard way, thinking if company is making good profits means share price must go up. If so easy, then majority will be making money and not losing. Hopefully, he becomes more humble although arrogant dude said it is not his forte. Anyway, we will see how his karma pan out.
2020-12-18 23:56
while v focus on EPS and PER , it is note worthy to look at the NTA , eg. topglove
nta is only 69 sen. With vaccines(though 90 to 95% effective)at the doorstep glove counters r losing its glamour. v need to be NOT bullish for now.
2020-12-19 09:57
Joker this oldman. Past few articles asked to believe financial. Now pula asks to believe chart.
2020-12-21 10:55
It’s still not too late to jump ship into BAT,The charts is indicated it will break 6 soon both sup and tg when the next QR out...or you may buy back later
2020-12-24 10:20
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Ricky Yeo
"The chart is more important than the financial analysis."
"you should not sell now because I believe the price is very near its bottom."
If chart is more important, that means investors should sell based on the chart now. But then you're asking people not to sell because the earnings are good. How like that
2020-05-06 20:44