Wednesday, January 11, 2012

Rubber glove sector-part 2

The other three rubber glove stocks have also broken above their downtrend line. They are or will be testing a strong resistance shortly.

1. Latexx has just broken above the horizontal resistance of RM2.00. The next resistance is at RM2.30.

Chart 1: Latexx's weekly chart as at Jan 11, 2012_12.00pm (Source: Quickcharts)

2. Adventa needs to break above the horizontal resistance of RM1.80.

Chart 2: Adventa's weekly chart as at Jan 11, 2012_12.00pm (Source: Quickcharts)

3. Topglov will face strong resistance at the horizontal line RM5.40.

Chart 3: Topglov's weekly chart as at Jan 11, 2012_12.00pm (Source: Quickcharts)

Of the above three rubber glove stocks, I feel that Latexx may be a better bet. If Adventa can break above the RM1.80, it can also be a good choice.


JY said...

Hi Alex
What do you think of Haio?
Is it making a comeback after 2 years downtrend?

Alex Lu said...


Haio may be starting on its uptrend. If it can stay above the RM2.00 level, an uptrend may begin for this stock.

TL said...

Hi Alex..
How about CAREPLS? this gloves counter get less discuss but is in up trend as well..

Yung said...

Hi Alex,
For Haio, do you have any idea what fundamental reason support the uptrend? better revenue, penetrate new market or any?

Is it means that previos negative news such as:-direct selling act can be ignore?

Thanks in advance.

Ethan Lee said...

Hi Alex,

What do you think of Sridge (0129) for medium term investment?

I saw its EPS quite good, 5.63 cents for 3 quarters.

Thank you.

Alex Lu said...
This comment has been removed by the author.
Alex Lu said...


CAREPLS is still moving sideway.

Alex Lu said...

Hi Yung

It is hard to make a case to buy Haio based on fundamental reasons. The only thing you can say about the stock from that angle is that its bottom-line has stabilized. Is that reason enough to buy?

Alex Lu said...

Hi Ethan Lee

Sridge is a fairly profitable company. Chartwise, it has good support at RM0.21-0.22 & resistance at RM0.29-0.30. Since it is trading close to its support, you can consider buying the stock.