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Monday, 16 November 2020

Updated Technicals of Glove Stocks such as Topglove and Careplus: 16 Nov 2020


Updated Technicals of Glove Stocks such as Topglove and Careplus:
16 Nov 2020
(Click on the Technical Chart Above to Expand)

Attached is the Updated Technicals on Glove Stocks. The first red circled region is my initial technical buys established in 2017 on glove stocks (refer to glove stocks' analyses such as Careplus). The 2nd red circled region is my technical analysis sells as shared on my FB Wall Analyses before prices started to fall with acceleration (i.e. sharply). The prices have started to fall with stronger and stronger magnitude per my analyses, and before they moved. Based on volume flow, the plunge is far from over. Retailers will start to trample on retailers resulting in sharper falls. As there is no shorting mechanism as yet, there will be not much buy queues from short-sellers leading to even worse falls when retailers trample on one another.

The Donovan Norfolk Technical Outlook on Gloves:
Highly Bearish



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