What's going on with Glove maker??

This morning, all glove maker take a sharp fall. Among the glovemakers which are in the klse top loser list are TOPGLOV, KOSSAN, SUPERMX, HARTA and LATEXX.

This come along after some re-rating report of this sector coming out. Link form TheEdgemalaysia

From my own perspective of view, glove maker will still remain profitable at least for this financial year. Price drop at this time just reflect some breathing space for them after the latest rally since 22th March. Here are some chart for SUPERMX and LATEXX.

SUPERMX chart shows a consistent wave all the time where each rally will be follow by some pull back. As this time, i can see support at RM6.30 follow by RM6.00. For long term investor, dont miss your chance at RM6.30.

LATEXX chart is pretty much like SUPERMX too. I do notice that its MACD has been stay calm for a while, RSI also been neutral. Its upside will be more significant if some good news start to flow in. RM3.80 is a save entry point, stop loss at RM3.70 if things doesn't come in our way.






Overall, long term investor should have a decent look on these stock. Don't miss the boat.