Glove industry: Aussie High Com reaffirms govt stand against 'modern slavery'
https://www.malaysiakini.com/news/535374

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When all these news start coming out you know what the sharks are trying to pull off this week. At the same time bullish analyst reports come out to get some to buy the sharks remaining shares at high price.

Yes all glove counters will go through correction this week and next but Supermax starts earlier by a few days based on June pattern.

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Sashay88 @Fightingdragons, should there be correction, it wont just be on supermx only. It shall affect TG too.
21/07/2020 6:37 AM

All big 4 will drop 20-25% in the next few days. Except for Super, the other 3 will edge up a bit the next 1-2 days first for sharks to sell their remaining shares. Now is still a window for those who cannot hold to exit first. Buy back at EMA20 support level.

If you bought low and prefer to close eyes for 2 weeks to ride out the pullback, then no problem. If not, look at June chart to decide whether you prefer to hold or sell.

KYY won't buy back until around $14 which is a 20-25% pullback. The main sharp drop hasn't happen yet. TG/Harta/Koss will edge up a bit for another 1-2 days then everything will drop. Look at June chart for how things will pan out over the next 2 weeks and you'll find the same pattern.

If you are long term then no problem. But if you're contra or trader, you better be able to hold.

Expect correction down to EMA20 around $14 for support.

Correction is here till end July (Harta results 4 Aug). If holding long term is ok as uptrend still there but may have to go through a rough ride of 20-25% pullback first.

Will break $19 after lunch

Wait for afternoon

Is results this week?

If tomorrow gap up to $19-20, a deeper correction may be coming. Hang on to your tickets.

Will go back down, try again next week.

Their QR will be in end September, nowhere near.

He also cari makan mah. Probably get funded by some investment firms to plant news / file reports at strategic times. If you check back all these labor issue news past 7-9 months, timing very "nice" one.

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yttihs I give credit to TG and Tan Sri. They responded prompted.

To Andy Hall, you do not sabotage and cause million of ppl to lose money. Regardless of how unethical TG was, they are trying. Your act is nothing graceful. You are practically worst.

Aisay anticlimax. My queue at 15/16/17 tak jadi. Thot can add on

I queuing 15, 15.6, 15.9, 16.1, 16.5, 16.9, 17.1, 17.5

Jack Khan, still trying to buy back in? What's your target price?

Will definitely sell down for Comfort. Safer to sell first, have a peaceful weekend and next week reassess. Correction will last for 2 weeks or so (based on June correction) and IB may press down glove prices until 3 call warrants (Kossan C3, TG C63, Harta C30) expire end July. If top 4 don't go up, Comfort won't go up.

Today Friday. A lot of retailers will sell in view of uncertainty as they don't want to hold over the weekend. Comfort counter mostly retailers so there'll be heavy selling due to fear.

Based on last correction, we are only at the beginning of a pullback which may last for 2-3 weeks with more downside. Only climb back in August in time for Harta results.

KYY writing on the TG detention https://klse.i3investor.com/blogs/koonyewyinblog/2020-07-16-story-h1510577388-US_Custom_Border_Protection_CBP_banned_import_of_gloves_from_Top_Glove_.jsp

Most likely V shape action when Bursa reopens. Even if limit down to 16.70, there will be buyback to 19+ based on EMA20 support line. Good luck bargain hunting tomorrow.

If u check back all these labor issue news abt top glove in the past 1 year they all coincide with accumulation / correction stages. Activists are funded by sponsors. They don't do things for free. So follow the money...

Why u all posting so outdated news one

Any limit down will be bought back rapidly and probably close back around $19 EMA20 because:

1. 12.5% revenue impact - share price already down around 10% today (based on 19.70)
2. Worse case scenario - TG can ship it to other countries (waiting list already increased from 40 to 400 days, ready buyers)
3. 2-4 weeks likely to be resolved

Tomolo drop 2.5% more

So share price today already drop 10% vs 12.5% revenue affected so ok already lah.

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smallkid91 Zoom call summary: please buy me a pizza :p missed the first part.

US total revenue is 25% of top glove.
12.5% of the revenue are affected by the hold order. Another 12.5% can still be shipped.
WRP took couple of months to resolve this. 2 months after engaging consultant.
Topglov is consulting the same consultant with WRP, and believe to resolve this in matter of weeks.
Topglov management have not meet with committees from border control.
Topglov had 80audits last year.
Topglov believe customer will follow through their orders instead of cancelling.
Topglov price difference between US ASP and others is 5% for non spot order. Similarly priced for spot order.

Topglove safety safety safety. Improve improve.

But it seems like topglove management does not show much emphathy. Probably good for our bottom line :P

Anyone watched that Zoom call? What's the update

Anyone watching that Zoom call?

Every correction there'll be a "trigger" to create panic selling for accumulation. You need balls of steel to ride the glove bull.

Following the meteoric rise in its monthly sales orders, the world’s largest glove manufacturer said its lead time had increased from 40 days to around 400 days, whereby orders placed now would only be delivered over a year later.

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Let's pause and think - TG has a 400 days waiting list. Just need to redirect the USA-bound gloves to non-USA customers in the 400 days waiting list and then resolve the USA issue in a few weeks. There is no impact given the severe shortage situation and with a diversified customer base (26% in north america).

Following the meteoric rise in its monthly sales orders, the world’s largest glove manufacturer said its lead time had increased from 40 days to around 400 days, whereby orders placed now would only be delivered over a year later.

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400 days! Just need to redirect the gloves to non-US customers in the 400 days waiting list and then resolve the US issue in a few weeks. No impact in a shortage situation with a diversified customer base (26% in north america)

10% down only TG Singapore. For perspective, that just brings TG price back to last week's price. Not end of the world. Just hold your tickets and don't let sharks buy cheap.

North America is 26% of sales.

Following the meteoric rise in its monthly sales orders, the world’s largest glove manufacturer said its lead time had increased from 40 days to around 400 days, whereby orders placed now would only be delivered over a year later.

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400 days! Just need to redirect the gloves to non-US customers in the 400 days waiting list and then resolve the US issue in a few weeks. No impact guys

Think about it guys... if US don't buy the TG gloves, TG just need to move up non-US customers in the waiting list. All ready buyers.

Then once the issue is resolved say in 2 weeks time, just continue selling back to USA.

In a shortage situation and with a diversified customer base - there's basically no real impact unless the issue drags on for months/years.

Following the meteoric rise in its monthly sales orders, the world’s largest glove manufacturer said its lead time had increased from 40 days to around 400 days, whereby orders placed now would only be delivered over a year later.

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400 days! Just need to redirect the gloves to non-US customers in the 400 days waiting list and then resolve the US issue in a few weeks. No impact guys

Think about it guys... if US don't buy the TG gloves, TG just need to move up non-US customers in the waiting list. All ready buyers.

Then once the issue is resolved say in 2 weeks time, just continue selling back to USA.

In a shortage situation and with a diversified customer base - there's basically no real impact unless the issue drags on for months/years.

For all we know, Top Glove still has 5 other subsidiaries selling to the USA

TG Singapore still around 9-10% down

TG Singapore now 8% down only.

TG Singapore is 10% down only. Not sure if they also suspend Singapore if Malaysia suspended. https://www.google.com/search?tbm=fin&sxsrf=ALeKk007S1UCxbx55L5zkh9T0BP2JggjTw:1594886048660&q=SGX:+BVA&stick=H4sIAAAAAAAAAONgecRowS3w8sc9YSn9SWtOXmPU5OIKzsgvd80rySypFJLmYoOyBKX4uXj10_UNDVNSKkviCywseRaxcgS7R1gpOIU5AgCxLMyUSAAAAA&sa=X&sqi=2&pjf=1&ved=2ahUKEwjFrPbCpdHqAhUEU30KHRQsDDMQlq4CegQIBRAn&biw=1500&bih=809&dpr=2#scso=_0AcQX9zQDJSv9QP5vLPYCg1:0,_uggQX7fAMYG_8QOVxpCYBg1:0,__wgQX7ekN63Yz7sP86qt2A41:0,_HwkQX7OTItTbz7sP356lmAU1:0,_IgkQX4XsN_b7z7sP8rmL0AQ1:0,_WAkQX7u7Dobf9QOz6pqQCQ1:0,_cQkQX874CcOy9QOGu5WACg1:0

Top Glove Singapore down 10%

All screens freezed

Queuing $2.9 and $2.8

EMA20 around $19

The Board of Directors of Top Glove wishes to confirm that the U.S. Customs and Border Protection (“CBP”) has placed a detention order on disposable gloves manufactured by two of the Company’s subsidiaries, namely Top Glove Sdn Bhd and TG Medical Sdn Bhd on 15 July 2020.

We are reaching out to the CBP through our office in U.S., customers and consultants, to understand the issue better and work towards a speedy resolution of the matter, within an estimated 2 weeks.

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2 weeks to press down share price just nice timing to clear end of month call warrants.

Normal lah, everytime correction or pullback, sure news about labor issues, detention order, or so-called fire in factory pop out without fail.

Harta already supported by 20day EMA. Other 3 not yet...

rr88, wrong forum this is Supermax lah

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rr88 Added position on jcy @ 0.46..
16/07/2020 10:32 AM

"My quick answer: You can sell if you are a smart trader to be able to buy back at cheaper prices during price correction. To be able to make some profit, investors must buy before the price rebounds. Most investors want to wait for the price to drop lower so that they can buy back at cheaper prices. What are they going to do if it rebounds up sharply?"

Let's see if KYY answer is spot on or not.

FOMO fever coming?