Last time Genting reached 5.5 was around March. Given current trajectory 5.5 is a matter of time. Very likely to reached 6 by year end.

It is possible that due to sentiments alone price can dip below 5. But unless there's a good reason for this (ASP well below pre-pandemic level, intense competition from abroad, very poor planning/financing decisions, accounting scandals, etc), I see no reason to dump this counter, may even average down whenever possible. Based on current info, my target price is around 8.50 when ASP stabilised.

Another boring trading day for Genting, bila naik sampai 5.5 so Bang can take small profit? Nasi lemak nak tambah ayam, tak suke kosong.

Yup morning up, afternoon back to square one. Who is excited for end of October, when Harta released next QR?

I am quite sure the worst is not over yet and depending on circumstances, the price may fall below RM5. The previous quarterly report from Harta is at its peak, and the next QR would not be so rosy given falling ASP and shutdown during EMCO. Right now I see two groups of investors. One willing to buy and hold for several years in anticipation of higher price (post-pandemic), and the other selling whenever there's a small bump in price, to cut loss or to take profit.

If you can hold for at least two years, Harta is an attractive buy, especially at current prices. But less patient investors would cut loss and look into tech stocks, palm oil and other recovery sectors to recoup losses. I too have incurred significant paper losses, believing that RM7 was the bottom. Two or three years is not a long wait, and I have incurred larger paper losses from Genting in mid 2020.

I could be wrong, but we may have reached the bottom (for now). Interested buyers are more at ease in making large one-time purchases.

Lots of large single purchases. Siapa beli?

Prices of Top 4 increasing. Good upward momentum today.

Mini2021 see 4.30pm start sell..... they distribute at 6.01-6.02
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EPF buy sell buy sell all the time. No need worry. In fact EPF has increased their holdings on Harta when compared to last month.

In light of current information, price fluctuate around 6 or higher. 5.5 is the other level of resistance. Want more action wait for QR report from Harta or from other Top 4.

A bit slow today, neutral price, let's see if activity picks up at 3:30pm.
FYI other top4 counters drop, Harta remained surprisingly resilient.

Who is buying gloves counter? Foreign funds? Local institutions?

khatul, you hisaping apa, saya pun nak coba

Price shooting up across different counters. Let's end green today.
Bang_miskin is more hopeful now, hopefully less miskin by year end. :)

The power shortage in China should be short term in nature (until March 2022 in some region). Yet this news is quite devastating to Chinese producers in the short run, alleviating some downward pressure on our glove industry. We still are unsure how this news will affect their medium/long run expansion plan, so it pays to be cautious.

bottom depends on Harta next quarterly report. If QR is really bad, bottom will drop like stone.

ah okay, wasn't paying attention to the global market. no wonder most major counters fall

Morning glove counter back to red again. Poor sentiment just won't go away. Once price shot up, many retailers cut loss/take profit.

Oredi a year too late. When Gent price is at low 3.XX, kenapa tak beli?


Posted by shareinvestor88 > Sep 29, 2021 8:30 AM | Report Abuse

Q @ 3.5

"Is it just me, or is it getting crazier out there?"

Welcome to the brave new world. We must learn how to separate infomation from noise, an important skill they don't teach us in school.

Pgraduate123 RSS decided its time to buy up...
So no more shorties... Today onwards, history repeats itself.. The start of Glove superbull 2.0
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I hope so, but to me downward trend is still very strong, hope Harta can continue to go green for another few days.

dawchok I would think it is the power crunch in China interrupting glove supplies from China and alleviating the over supply situation.
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I thought power crunch only affects the northeastern region of China?

Anyway I looked into it and Reuters mentioned it will affect producer of steel, aluminum and chemical products. No wonder pmetal and pchem also doing well today.

If this is really RSS covering their position, then we are not safe. Once this round is over, be prepared for next round of crazy selling.

sheldon Maybe the shorts covering their position
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Very likely. suddenly all glove counter increase without any important news.

up up and away, hope can maintain this momentum.

Oh lala someone is on a buying spree. Siapa sapu?

Just my own bias speaking. While I think top 4 gloves are all good buy at their current prices, I think Harta has the best chance of weathering the storm (declining ASP, increased competition etc). Moreover Harta is already at pre-pandemic price while Kossan (already very close to pre-pandemic price) Topglove and Supermax have not reached their pre-pandemic price level.

EPF buy and sell very normal la

Glove sentiment still very very poor, people take profit/cut loss whenever possible. So price cannot go up, at least for another 2,3 quarter until ASP stabilised. Really up to Harta and other glove counter to produce QR above market expectation. If QR is below expectation, be prepared for another round of selloff.

qqq3333: all these Taiwanese and HK black shits making a fool of themselves.
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Taiwanese and HK are still people okay. You may not agree with their thinking, but do not denigrate them like that. By doing so you're not that different from those "white supremacists" you claim to hate.

Really tak faham Bursa punya selling strat.
Cash rich company nak jual diskaun besar. Company future teruk gila? Nak bankrap ke?
Tech stock setengah tahun sudah naik 10 kali ganda. Tak takut bubble ke? Takde org nak take profit & shortsell?

Bang_miskin pening le tengok kaunter Harta. Need reality check.

Can reached 5.00 by Oct 1st? Ready to sell recovery to stock up on Harta (peti sejuk mode)

Selling pressure continues today, but there are lots of eager buyers too. Morning did better than other top4 counters, hope we're closed to the bottom and rebound from here.

Masalah Covid tak cukup, now cakaping about WW3? Bang Koon, you punya mimpi buruk tak perlu share disini. Bang takut, tak boleh tidor.

The price trend doesn't make much sense to me. If price is really really low, why don't we see large local and foreign institutions buying in bulks? Why doesn't the Kuans mop up with share buyback like they did a few months ago? Is the coming quarter going to be a lot worse than the preceding quarter?

Lots of questions keeping bang_miskin up at night. Miskin takpe, takut tunggu share price up sudah mati kebuluran.

what's the prediction for this counter this week? up, down or sideways?

this kaunter belongs to "tak-mau-peduli" kategory. Wait till 1/2 to 1 year for price to bottom up. Then baru average down and sell.

With this price, the market seems like quite confirm to tell us that China gonna flood and dump the gloves at lower cost price worldwide. Is it possible in the future?
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Unless they have a cost advantage or recent technological breakthrough that we are not aware of, I don't think it is very likely. The expansion comes due to the sudden boost in ASP in 2020-2021. If they do have a comparative advantage over M'sian producer, why not sapu us years ago? Could've done that 10 years ago.

In two three years, the sudden expansion will cause a glut, potentially driving ASP below pre-pandemic level. But it will hurt us and them too. Don't forget that Chinese are still businessmen too. No good profit, makes little sense to continue further expansion.

China government suddenly ordered all industries which are high consumed energy to stop production immediately , this includes rubber , garment , metal ....
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Source? In preparation for National Day? Doesn't seem very likely to me.

ngjack1991 Short term trading don't care fundamentals, fast in fast out, cepat2 untung. Long term investor consider fundamentals. So if can hold, price cukup murah le.

vitac But u forget the share already split 1 to 5 means u should x 5 @ current price, sky high ...

bang, most recent split is in 2018. During pandemic mana ada split.

Good price to accumulate, however given current sentiment, why accumulate now when can get it for cheaper?

Strange, today Topglove, Supermax and Kossan relatively stabil, Harta drop like stone, furthermore Harta price oredi at pre-pandemic price, while the other top4 still have room to fall. Ada extra inside info nak share?

vcpmaster123 The question is who supply the cheap tickets?
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A lot of people here are opportunistic investor. On one hand, you see tech stocks like Genetec increasing at 5% percent a day, tangan gatal and want a piece of the pie. Moreover any recovery stocks is guarantee up because of various recovery announcement so very easy short term gain. On the other hand you see glove stocks tanking like no tomorrow, yes market overreact but bottom haven't reach, don't even know mana tu bottom.

Put two and two together and you'll understand why people throw stocks even at ridiculously cheap price.

Adui dumping stocks like crazy. 5.6 very little supports. easily achieve TP RM5.5, RM5.4 not remote possibility.

Drop like no tomorrow, accelerate to 5

Yes market did overreacted but the million dollar question here is when will we reached the bottom? For me I thought it was 7 (yes bodoh in hindsight, topped up several times above 7). Nobody knows for sure. Even if they have a good idea, they senyap2 beli and ignore all the kecoh2 here. What I know is when dividend money arrives, I will continue to support Harta.

Windfall tax is such an absurd way of earning government revenue. Oh you have a profitable industry? You kena tax! In the long run, profitable industries either underreport profit or locate out of Malaysia to avoid tax. Have a fairer tax corporate tax or even consumption tax (like GST), don't unnecessarily punish profitable industry. No different from mafia.

This month: 80%
Next month: 30% I pun ketawa lah

Downtrend very strong. Orang tanya why dik miskin beli downtrend stock. Dik masuk freezer, kutip dividend, tunggu rebound selepas ASP stabil.

Welcome back anak ular sawa. Banyak org sini nak panggang lu.Cepat2 membiak, hasilkan cucu dan cicit, boleh?

Bila WW3 inkambing? M'sia ada kilang yg menghasilkan produck utk bunker nuklear?

When is harta releasing its next QR? Will it be like Topglov QR (bad report kad), even worse, or better?