I think today should close around 7.40. Then tomorrow move strongly and breach 8 before closing just below 8.

Both Comfort and Top Glove QR announcement is at end June - that's why "bad news" start popping up now

Comfort results coming out next month which is usually when the major uptrend happens. That's also when you get these jokers trying to push people to panic sell to buy cheap. "Bad news" usually happen before uptrend.

3rd week June QR

So many new names. Who are the ones been here since Dec/Jan?

Just to clarify the Kenanga changing TP 4 times a week was referring to the report for Supermax. But generally, everything we read from the investment banks and newspapers have to be read with multiple pinches of salt. You'll also have news/rumors about worker issues, factory not following MCO rules, and fire that come out at strategically opportunistic timing before uptrends.

Yes, Kenanga change TP 4 times within a week - probably to give them time to accumulate.

The Edge newspaper also made it a point to repost the same article (glove valuation vs banks) a few times over the past week - again to create doubt and selling pressure and push some retail investors to sell before and after Hari Raya hols so that institutions can collect. No sellers = cannot buy, especially at low price.

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Mabel Everyone seems to say that Gloves counter are now overvalued.

Here's the irony part, IB seems to be revising their TP upwards all the time..

Is it because they have collected enough?
24/05/2020 8:18 PM

All these vaccine news is just stock market manipulation to keep the market from sliding downwards and also for traders to cash in on the short spike. Vaccine development usually takes 15-20 years. Even if they fast track it under emergency approval process, it will take a year or two at least. More likely we'll get antiviral drug first before vaccine. Even then, demand for gloves will not be affected although it make create a temporary downtrend i.e. buying opportunity.

2nd wave coming soon by the looks of what's happening in the USA: https://edition.cnn.com/2020/05/25/health/us-coronavirus-memorial-day/index.html

Guys, for now it is ok, don't defend the uptrend. Let guys like Talib spread some negativity - I think Supermax can more than afford it. I also want to top up a bit more next week :D

I have read the reports, there are new info here and there that's why they are changing the TP. But 4 different price targets within a week? Pure incompetence I think unless Supermax is purposely withholding info from them or Kenanga wants to buy more first before revealing those juicy info like the 95% OBM.

Still don't understand why Kenanga's price target keep changing after a few days. Can't make up their mind?

KOSSAN's results out TODAY. Will it be like Harta or Supermax?

KOSSAN's results out TODAY. Will it be like Harta or Supermax? :)

The demand of gloves has exponentially increased this year amid the global COVID-19
pandemic. The surge in demand has resulted in a rapid rise in average selling prices (ASPs), as
buyers rush to secure their supply of personal protective equipment (PPE), including medical
gloves.
As a result of the outbreak, the prices of oil and raw materials have fallen. Specifically, nitrile
and natural rubber material prices have decreased by 11% and 6% respectively Year-on-Year,
and 7.3% and 2.5% respectively Quarter-on-Quarter.
At the same time, the USD has strengthened against the MYR, by 2.18% Year-on-Year and
0.36% Quarter-on-Quarter.
The current market conditions favour Supermax Group, and our outlook is expected to remain
strong for at least the next 1.5 to 2 years, while a vaccine against COVID-19 is still under
development.
The pandemic has brought Supermax Group bumper profits beginning March/April, 2020, for
both the Distribution Division from the 7 countries where Supermax Group operates and the
Glove Manufacturing Division in Malaysia.
Following the outbreak of COVID-19 globally, the Company is seeing the emergence of new
consumers and new consumption not previously seen. The pandemic has resulted in a demand
surge for PPE products, including medical gloves. The use of these protective and infectioncontrol products has expanded beyond healthcare and frontline workers to also include the
general public.
From the distribution centres where Supermax Group operates, we have seen significant
increases in the demand of gloves for immediate supply. Our usual 4-month working inventory
at our distribution centres were sold within 6 weeks and at higher ASPs.
Supermax Group‟s Glove Manufacturing Division is strongly positioned for this opportunity to
boost earnings and expedite and its capacity expansion plans. The Company is building 3 new
factories in tandem, allowing us to capitalize on the exponential growth in demand of medical
gloves, reduce its widening capacity oversold position, and increase overall capacity to cater to
the acute global shortage of PPE.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3051510

Result is out!

Rotation play, focus is now on Comfort as Comfort has corrected quite a bit.

So what's the likely results from Supermax's QR today? Anti-climax similar to Harta i.e. positive results will only be seen in the next quarter or very good? If the former, will we see a sell off again?

How come KENANGA revised their target price to RM6 just 5 days after they publish their target price of RM4.50? That just sounds so wrong - either they don't know what they are doing or deceptive.

Supermax results today?

https://klse.i3investor.com/servlets/ptres/55146.jsp

Been waiting for this moment but no thanks to CGS-CIMB I couldn't login to top up this morning!

Healthy correction. This will ensure a more sustainable uptrend moving forward. For latecomers, this is your entry.

When is Supermax's QR announcement?

Comforting to see all kinds of fake accounts come here and try to create fear/panic and get people to sell Harta. It confirms that the uptrend will continue.

Sure result is at lunch time? Maybe end of day?

COuntries are taking turns to get hit by the virus.....

Brazil now has 233,142 in cumulative confirmed cases after adding 14,919 new infections in the last 24 hours, reported Reuters, citing the country’s health ministry.

China’s National Health Commission said there were five new coronavirus cases in the past day — twowere “imported,” while the remaining three were detected in the northeastern province of Jilin.
India’s confirmed coronavirus cases totaled 90,927 after it reported another 4,987 new infections, according to latest data by the Ministry of Health and Family Welfare.

https://www.cnbc.com/2020/05/17/coronavirus-live-updates-asia-europe.html

Kim - focus on Harta as in buying more Harta? It has gone up the least YTD (+70%) vs TG (+123%), Kossan (+84%) and Supermax (+188%) but still got room to go further given their limited capacity? Or you're hoping for post-QR release bump?

Hope it corrects today, maybe down 1-2%. That would be a healthy sign.

WHO warns it could take up to 5 years to control pandemic
https://www.cnbc.com/2020/05/14/coronavirus-who-warns-it-could-take-up-to-5-years-to-control-pandemic.html

Cos there's a lot more good news coming in to push the uptrend.

The Star today

Today's news

Supermax expected to post stronger quarterly results
KUALA LUMPUR: Supermax Corp Bhd (Supermax) is expected to post a stronger set of third quarter results ended March 31 as it is likely to benefit from increasing margins given the high exposure of products sold under its own-brand manufacturing (OBM).
RHB Research said the group’s overall average selling price has risen as more of its products are sold to the end consumers
 instead of distributors, allowing Supermax to capture higher margins along the value chain.
“We estimate its average selling price to increase 5% to 15% from financial year ending June 30, 2020 (FY20) to FY22.
“This is higher than peers’ average selling price increases of 3% to 5%, as 50% of Supermax’s products are sold under OBM versus its peers, which almost all sell 
under the original equipment manufacturer segment,” it pointed out.
As such, RHB Research expected stronger set of results in the near term, which would be supported by higher sales volumes, a stronger US dollar against the ringgit and lower raw material prices.
The research house has also increased its earnings by 25% to 86% for FY20 to FY22 forecast.
It is maintaining a “buy” call with a higher target price of RM3.90, which is in line with better earnings estimates.
RHB Research expected Supermax to benefit from the global demand surge trend for gloves, which started since February due to the Covid-19 outbreak.
“Due to the remarkably high demand, Supermax’s lead time has increased to eight months, which is much higher than the normal range of two months to 2½ months.
“The utilisation rate is now almost full at 90%, vis-à-vis normal levels of 70% to 75% before Covid-19,” it said.
Even without the pandemic, Supermax is a beneficiary of the long-term uptrend in the gloves consumption globally by 8% to 10% per year.
Supermax has increased its capacity by 2.2 billion pieces per year or 10%, to 23.9 billion pieces per year following the completion of ;lant 12 block A in January.

Overpriced. Why has the share price recover when their shops are all still closed

RM10 at least. RM12 possible but v risky

Why is KYY writing about orchids in a time like this??? https://klse.i3investor.com/blogs/koonyewyinblog/2020-05-11-story-h1506974686-My_misadventure_in_planting_orchids_Koon_Yew_Yin.jsp

Glove bull run till end of the year. Uptrend will be strongest now for next 3 months

What is real and what is artificial. For us ikan bilis, we are too small to change the rules. Key is to understand how the game is played and try to maximize opportunities based on that.

Fire news just to get people to panic sell so sharks can collect low. All these glove news are nicely timed somehow.

Brazil reported 10,503 new confirmed cases in the last 24 hours, a new daily high from its last record of 7,288 cases on April 30, according to Reuters, citing health ministry data. Fatalities rose by 615, also a new high compared with the 600 reported Tuesday.

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Virus is not going away anytime soon.

Yes, minor fire in DK Precision, plastic factory next door. Looks under control. Just a few hours no work.

Kim.. curious, what kind of musical chair are we talking abt? :)

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Kim Haha.. the musical chair just started. =)

Top Glove is the leader for glove counter. Glove bull run is not possible without Top Glove running also. Now is just healthy correction + call warrant expiry on Friday = opportunity to collect for those who missed the boat earlier.

Hooi just trying to push down the price to buy low. Uncle never release such blog.

Everybodyhuat -- this means now is best time to accumulate TG before it moves again next week.

Rf888 -- direct source as in contacted their investor relations dept and ask. What's the source for Supermax? Past few years, Supermax is always in May.

Rf888 source directly from Harta. TG is 3rd week June. Kossan no news yet - but acc to kytan 20/5. Does anyone know Supermax's QR announcement date?

It depends on timing. Big 3 prices have shot up much earlier, now is tier 2's turn. Also, now TG got CW expiring hence uptrend will be suppressed in the meantime. But once Harta/Kossan/Supermax results out this month...

Rf888 See HARTA maybe this week result first, if good than supermax RM 3

Harta results out only on 18 May.