Stock Analysis: TOPGLOV 7113 S TOP GLOVE CORPORATION BHD[07-Apr-2023-Fri]

 Stock Analysis:  TOPGLOV 7113 S TOP GLOVE CORPORATION BHD[07-Apr-2023-Fri]

Health Care - Glove

Technically, this stock is riding on the initial stage of markup phase, and most short to long-term moving average lines are on uptrend supportive pattern, above SMA200 line. The stock price is at higher high position breakout above RM1.050. This is an initial stage with higher low higher high chart pattern signifying a reversal uptrend pattern above SMA200 line. The daily+ MACD, DMI, and RSI oscillators are in supportive position having the price stays above RM1.050 with much higher volume along the next uptrend movement. The OBV indicator is also in incremental momentum. However, if any pullback were to take place, the supportive range could be observed around RM0.950 to RM0.900 and ensure to position the stop loss below RM0.900.

TOPGLOV is only good at technical look but the quarterly financial status is at the worst now.  Fundamentally, according to the latest quarter reports, they are all on descending growth and the net cash flow from operating activities is at –RM80mil. Whereas the cash & cash equivalent is around RM345mil.  In short, it is good TA but worst FA now.

Other stocks to watch: TOPGLOV, SUPERMX, HARTA, CAREPLS, KOSSAN;

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