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Saturday, January 19, 2013

Top Glove Corporation Bhd

Overview:
Top Glove Corporation Berhad is engaged an investment holding and provision of management services. 
The Company’s product include Latex Examination Powdered, Latex Examination Powdered-free, nitrile examination gloves, soft nitrile examination gloves, vinyl examination gloves, surgical gloves, high density polyethylene (hdpe) gloves, long length 12 high risk gloves, cleanroom gloves, stretchy vinyl examination gloves, Soft Nitrile Examination Gloves and Household / Industrial Gloves
Its subsidiaries include Top Glove Sdn Bhd., TG Medical (U.S.A.) Inc and Top Quality Glove Sdn. Bhd. 
In June 2012, its subsidiary, TG Medical Sdn. Bhd. acquired Top Glove Agro Sdn. Bhd. 
On August 3, 2012, it formed PT. TOPGLOVE INDONESIA. 
On October 1, 2012, it acquired PT. Agro Pratama Sejahtera (PT. Agro). 
On December 3, 2012, the wholly owned subsidiary of the Company, Top Glove Sdn. Bhd., acquired BestStar Enterprise Ltd. 
In December 2012, the Company acquired GMP Medicare Sdn Bhd.


Analysis:
1) Trendline - Above 100MA, waiting for breakout 20MA at RM 5.52
2) Volume: High
3) MACD: Green (Positive>Bullish)
4) Smoothed RSI : At 46.2%. RSI hooked up.
5) Support/Resistance: Supported at RM 5.52(20MA). Today close RM 5.43
6) Beta: 0.88
7) Candlestick: Uptrend after strong Harami?
8) Pattern: Bullish after breakout at RM 5.52


Trading Plan:
Entry: RM 5.43
Profit: RM 5.65
Cut loss: RM 5.32
RRR (Risk to Reward Ratio)> 1 : 2

Tok




BULLISH HARAMI CROSS

Type: Reversal
Relevance: Bullish
Prior Trend: Bearish
Reliability: Medium
Confirmation: Recommended
No. of Sticks: 2
http://www.candlesticker.com/Cs31.asp


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