RHB Retail Research
Technical Analysis - Top Glove Corporation
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Top Glove formed a long white candle, indicating that momentum of buying could be strong. Last Friday’s close has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR11.90 level, with an exit set below the MYR11 level. Towards the upside, the immediate resistance is at MYR12.50. This is followed by the MYR13 level.
Source: RHB Securities Research - 2 Jul 2018
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