The Big Crash of Glove Stocks To Come: Supermax: 14 Dec 2020

 

Technicals of Supermax (and Glove Stocks such as Topglove and Careplus):

14 December 2020
(Click on the Technical Chart Above to Expand)

Attached is the Technicals of Supermax (and Glove Stocks such as Comfort Gloves, Topglove and Careplus in general). As illustrated on the chart technicals of price actions and volume flow, the distribution within the symmetrical triangle is getting impatient and more rushed. 

TP based on chart technicals: $2.26 

This will represent a regression back to the norm; it also represents a -70% crash from here and a -81% crash from the peak. A high volume flow will break down the triangle based on forward fundamentals.

The Donovan Norfolk Technical Outlook on Gloves:
Highly Bearish

Related:

http://donovan-ang.blogspot.com/2017/06/carepls-klse-0163-6-june-2017-tuesday.html

http://donovan-ang.blogspot.com/2020/11/updated-technicals-of-glove-stocks-such.html

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