Bulls are back. USD expected to have run its course and will weakened in the next few qtrs. Oil price should be at the high 80s and 90s by next year. I have not seen CNY bull run for many years now. Those who go short might have to rethink.
Intco, the largest glove producer in China, barely making any profit with such pricing. Bluesail is even worse and is making losses. Let's see how long they can depress the market with such move.
there's a reason this Harta has achieved different result from Supermax, if you want to listen to the managing director that likes to change different jet, you're at the wrong counter, nutsucker.
Many has thought that China glove makers are doing very well, but in fact if you study their largest glove producer, Intco's financial result, you can see that even they themselves are barely making any profits although at a very high utilisation rate. This is because they are trying to suppress the opponent with cutting throat price and trying to win the market share this way. Therefore, now we are seeing who are the more efficient glove maker with good cost control. Sooner or later, ASP has to go up or else Intco themselves can continue to eat wind.
No worries if you plan to hold next 2 qtrs. Supermax is cost cannot beat Harta cost rationalision and people working there can tell you how prudent the company culture is. It is ramping very hard in the coming months. Good time to enter 2.50 -2.60
Harta's gloves sale order is increasing as quite a significant number of buyers have come back to M'sia. Harta will show us a good set of qtr earning 3 months later.
Kossan report states the obviously consistent now, demand picking up ahead, gas price reduction impact in the coming qtrs. One time impairment cost else will be a great qtr.
hi ccpool, how's your TA serving you in this counter? I believe we have some exchanges before when Harta is at below RM2. Believe in long term now? Harta is still recovering and already priced at rm2.5. RM4 should be achievable by 2025 :)
Hi YourQuirkyWays29, My TA have served me very well indeed. Managed to get into most of the counter's low in 2022 and riding on since. Back to take profit and looking for good levels to trade.
@ccpool The 2.8 level seems great to take some profit in hindsight. But it is so marginal you would need huge volume to see noticeable gains. I'm not that pro so I'll just wait as usual.
I doubt we'll be seeing 2.3 levels again unless next QR sucks not for reason like red sea crisis which is relatively temporary. I do believe when we last chat at around 1.6 was the real bottom and hopelessness in the glove industry already.
Time to slowly accumulate. The other sector that move early is not showing real sustainable profit in their qtrly. With glove cost efficiency drive the market now become more efficient then before. 3 to 6 month wait is not a concern. Utility. Travel oil n gas, telco all showing bad to so so results.
@YourQuirkyWays29 , 2.3-2.0 region is a key area to defend before any further upside. If level is lost, we might retest the 1.7x area. Just long and chill for now since we got in much lower. Shall see where the price wants to go and I'm ready for either way.
Where is 2.3? its been 3 weeks. Almost 400 counters in Bursa is in red and you want come out kap siao? You are just another nutsucker, quoting price from the sky that will never reach. I dare you to short till 2.3 :)
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YourQuirkyWays29
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Posted by YourQuirkyWays29 > 2 months ago | Report Abuse
Funny that now talking down on Harta has to be 2.3 already, when it used to be penny stock. xD Keep hating.