Comrade-at-arms. Today as you opened your computers and handphones and look at your stock of this counter, I'm almost sure you'll be disappointed. The price has dropped to the low the mid 30sen last week. Is it unexpected? Actually no. Charters will tell you that it's foreseen. But the market uncertainty confirmed it.
If you are looking at the charts today, you'll see that it's heavily oversold. You don't have to be very smart or to know charts to understand what happens after the oversold stage.
You need to ask yourselves if the gloves industry will see better days. What do you think? So far, all the glove stocks rose because of the confidence in demand - that healthcare needs are spiking. And the same stocks got trashed because in many countries, Covid 19 is beaten.
But did anyone think for a moment that there is a larger demand for gloves that have not been explored when services and industries open? Housewives, people working in food industries, and if you put on your thinking cap, I'm sure you can find new uses for gloves.
Do you think the manufacturers, with their creative marketing team, will leave these areas of profitability unexplored?
It has breached 0.48 today, next stop, looks like 0.54. The momentum is strong according to the charts bu volume is not high yet. At its height months ago, if you recall, momentum was at least 10 times today. But the day is still young. So let's watch
bloody hell cancelled order didnt sell at 0.495 in morning session, then just now sold at 0.47! Hahaha... tomorrow please red first let me pick up again
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
de_investor
994 posts
Posted by de_investor > 2020-06-25 20:50 | Report Abuse
2moro...start bullish again...panic selling today.....$$$