TECHNICAL AND FUNDAMENTAL ANALYSIS

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TOPGLOV (7113) - Technical And Fundamental Analysis_V2

August 18, 2019

 

Technical Analysis

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- After TOPGLOV completed the Elliott Triangle Wave, it rebounded and hit RM5.095 on May 24, 2019.

- However, it fails to sustain the buying momentum to push higher shares price.

- From the middle-term view, we noticed TOPGLOV still trade in bearish momentum.

- Moving average (All Level), RSI and MACD are in bearish/oversold.

- However, we hold a new view of the situation. Let us continue further!

- We noticed there is RSI golden cross appears in weekly/monthly charting bars.

- It indicated a strong turning point for TOPGLOV and it might lead to bullish momentum in the middle term. Stay tuned!

 

Fundamental Analysis

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a) Overview

- Based on the overview table, we able to conclude TOPGLOV have a better financial in the past 5 years.

- Double-digit in business growth.

- High average cash which able to sustain continuous dividend payout.

- However, it is a overvalued based on corporate value calculations (Corporate Value RM3.8253 vs Shares Price RM4.470)

 

b) Last 4Q Financial Performance (Adjusted)

- To capture the latest performance of the company, we re-compound the last 4Q financial statement.

- From the table, we will not surprise that TOPGLOV shares price traded lower low in the past 9 months.

- Out of 10 items, there 3 financial ratios are improved compared to the last annual financial statement.

- The most critical is EPS which drops more than 44% compared to the last financial statement.

 

c) Market Prospect Ratios

 

d) Profitability ratio

e) Liquidity Ratios

 f) Efficiency Ratio

 g) Solvency Ratio

 

 

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