Dear valued readers,
|Recent||From high||From low|
|Stock||High||Current||% drop||Low||% down||20% up|
Performance of Mercator WA
- The share price of Mercator was at first peak at 400.00 on 28/7/2020.
- The share price went down south to the recent low of 256.00 on 7/8/2020.
- The share price rebounded to 396.00 on 3/9/2020.
- The share price went through a correction again and managed to close at 388.00 on 18/9/2020.
- The chart pattern is called "Cup And Handle Formation".
- The share price crossed 400.00 on 24/9/2020 and closed at 411.00.
- The share price hit an all time high at 548 on 6/10/2020.
- The share price had increased from 5.17 to a high of 548.00 in 2020, up 10,500% in 2020 YTD.
Please go to this link to open the chart. https://www.investing.
Performance of all glove stocks in 2020
Glove Share Price Ranking
- Mercator WA up 10,500%
- Careplus up 4,484%
- HLT up 3,330%
- UG Healthcare up 2,646%
- Supermax up 1,806%
- Rubberex 1,502%
- VIP Gloves up 1240%
- Intco Medical 1,217%
- Comfort 1,213%
- Riverstone up 720%
- Topglov up 697%
- Kossan up 487%
- Hartalega up 417%
- Sri Trang up 364%
- Blue Sail up 322%
- Semperit up 283%
- Ansell up 206%.
What is the TA chart of Supermx telling us ?
- The share price of Supermx peaked at 12.22 on 7/8/2020.
- The share price went down south to a low of 7.95 on 17/8/2020.
- The share price rebounded to 11.68 on 1/9/2020.
- The share price went through a correction again and hit a recent low of 5.68 on 10/9/2020.
- The share price was up on 11/9/2020 on technical rebound, the share price managed to close at 8.59 on 25/9/2020.
- The share price crossed 20-day EMA convincingly on 25/9/2020 and closed at 8.59.
- All indicators are displaying a buy signal for Supermx after the share price closed above 8.51.
- The chart pattern of Supermx will be almost the same as Mercator except the share price is lagging 1 week to 10 days behind Mercator WA.
- I expect the share price of Supermx to hit 12.20 again before the Q1 2021 result is out.
- The share price of Supermx had increased from 0.64 to a new high of 12.20 in 2020, up 1,806% in 2020 YTD.
- Enclosed is the technical chart of Supermx for your perusal.
- The share price of Supermx is at the beginning of Wave 3 of a Primary Wave 3. I believe the share price just completed Wave 2 of a Primary Wave 3 on 22/9/2020.
- I believe the share prices will continue to hit new highs until you cannot believe it if the share price is confirmed to be in Primary Wave 3.
- Parabolic SAR buy signal is just appearing to confirm the uptrend had started effective from 24/9/2020.
- MACD buy signal just appeared in the chart on 25/9/2020 after the share price crossed 8.51 convincingly.
Projected PAT in Q1 2021 result of Supermx
|Q4 2020 result of Supermx|
|Revenue = 929 million, Monthly Revenue||310|
|PBT = 519 million, Monthly PBT||173|
|Monthly Manufacturing cost||137|
|From analyst briefing slides dated 11/8/2020|
|Assume monthly manufacturing cost increases 15%||158|
|Assume additional 3.3 billion capacity increase (15%).||356|
|July month price increases 15%|
|Revenue = 356*1.15||409|
|PBT = 356*1.15-158||251|
|August month price increases 30%|
|Revenue = 409*1.30||532|
|PBT = 409*1.30-158||374|
|September month price increases 30%|
|Revenue = 532*1.30||692|
|PBT = 532*1.3-158||534|
|Total PBT (Q1 2021)||1159|
|Less 25% tax||290|
|PAT 120 million carried forward from Q4 2020||120|
|Total PAT (Q1 2021)||989|