TOPGLOV (7113) - Technical Analysis with ROE Quarterly movement

Technical Analysis with ROE Quarterly movement


- Due to Coronavirus breakout, TOPGLOV shares price has been shot-up like a rocket without any resistance. No doubt, this a speculation actions and shares price movement don't reflect company fundamental at all.

- Don't treat your lucks as a skills. Unless, you plans to leave the shares market after this round.

- Overall, we notices that TOPGLOV shares price is hard to sustain above RM6.00 even ROE Q2'18 at 20.68% or virus breakout news lately. Thus, we able conclude RM6.00++ is definely a strong resistance.

- With double bottom reversal measurement, TOPGLOV shares price hit all level of satisfaction point on Jan 28, 2020.

- Vertical volume (From Nov 29'18 to Feb 14'19) shows average pricing at RM4.795.

- Vertical volume (From Dec 17'19 to Feb 14'19) shows average pricing at RM5.435.

- TOPGLOV shares price showed bearish shooting star on Jan 28'20 and bearish evening doji star on Feb 13,2020 which is a red flag indicator for shares movement.

- Furthermore, TOPGLOV ROE quarterly movement is showing a serious deviation of current shares price. Really need to be extra careful if your entry level at high end.

- Resistance (1): RM6.00++

- Support (1): RM5.435

- Support (2): RM4.795


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