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.
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9 comments:

  1. JYWednesday, January 11, 2012 3:30:00 PM

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

    ReplyDelete
  2. Alex LuWednesday, January 11, 2012 5:16:00 PM

    Hi JY

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

    ReplyDelete
  3. TLWednesday, January 11, 2012 8:32:00 PM

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

    ReplyDelete
  4. YungWednesday, January 11, 2012 10:41:00 PM

    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.

    ReplyDelete
  5. Ethan LeeThursday, January 12, 2012 11:33:00 AM

    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.

    ReplyDelete
  6. Alex LuTuesday, January 17, 2012 9:52:00 AM

    This comment has been removed by the author.

    ReplyDelete
  7. Alex LuTuesday, January 17, 2012 9:54:00 AM

    Hi TL

    CAREPLS is still moving sideway.

    ReplyDelete
  8. Alex LuTuesday, January 17, 2012 9:55:00 AM

    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?

    ReplyDelete
  9. Alex LuTuesday, January 17, 2012 10:17:00 AM

    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.

    ReplyDelete