Hopefully they ride the EV wave with the MITI approval. This should push the stock price to the 30sen range at least for the near term. Or we need a miracle goreng!!!
Losses will carry on for awhile but overall glove sentiment and diversification should push it up beyond 30sen range. Hopefully it can stay above that.
Congrats pinetree88, a quick 12%+ gain. It should head towards the 35sen mark before moving further to 40sen after beating the resistance level of 31.5sen
1) Careplus - Before covid (FY2018 / 2019) , the revenue is at least RM80-90mil per quarter. Now, it drip to RM13mil per quarter, it seem like they are really out from this glove market d.
2) Comfort - Before Covid (FY18/19), their revenue is around RM100mil++ per quarter, now left RM70-80mil per quarter, 30% drop, still acceptable, as ASP has drop lower than before covid.
3) Hexcare - Before Covid revenue was RM50-60mil per quarter, now left Rm40mil, still acceptable.
So, very clearly, Careplus will soon disappear from Glove Industry, hope they can survive in EV industry, but I have doubt on it, as that market need even more capital to burn.
This is one tough stock to sustain some momentum even in short term. Resistance is always around 33-34sen. If it manages to stay above 30sen, I still stand by my prediction of around 35sen above.
yes malaysia glove company lose 9 streets compare to china ppl company , penny margin , make glove just print newspapers,dun fall in wrong share counter again
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MQ Trader 2904 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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heisenbergxv4
94 posts
Posted by heisenbergxv4 > 2023-05-18 16:31 | Report Abuse
Can buy some & monitor