Over the past week, we have seen immense buying pressure in some of the glove makers listed on the SGX.
Most have sold off heavily after Covid 19 when the demand for medical gloves waned.
What is the reason for this and can this be the start of a reversal that can potentially begin in 2024?
We have raised our upside target.
check out what these 3 Glove stocks are and more important what to do with them.
>>> https://youtu.be/9bXkLtSPt2g
Over the past 1 month, we have still seen weakness in the SG Glove makers. 📉📉
Riverstone, UGHealthcare and Top Glove.
Mainly due to talks of a vaccine rolling out in phases and the world eventually getting hold of it.. 💉
Each of them have broken their support that I talked about in my previous video and it seems like buyers are just not able to hold each time .
Joey here, Top Tier Remisier in Phillip Securities.
There are some signs of weakness from the trend indicators for now in the short term..
Join me as i dive into the charts for each of them to see if 𝐦𝐨𝐫𝐞 𝐬𝐞𝐥𝐥𝐢𝐧𝐠 𝐜𝐚𝐧 𝐡𝐚𝐩𝐩𝐞𝐧 𝐚𝐧𝐝 𝐢𝐟 𝐲𝐞𝐬, where to.
and 𝐖𝐇𝐘 you want to be careful if certain supports are broken again.
Watch Here >> https://youtu.be/FxhAcvvSiGA
Over the past few days, we have seen some really heavy selling of stocks in the Singapore Medical sector. 😰
Mainly the 𝐆𝐋𝐎𝐕𝐄 𝐌𝐀𝐊𝐄𝐑𝐒 that were once finding new highs when Covid-19 hit.
We are talking about stocks like 𝐔𝐆𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞, 𝐑𝐢𝐯𝐞𝐫𝐬𝐭𝐨𝐧𝐞 𝐚𝐧𝐝 𝐓𝐨𝐩 𝐆𝐥𝐨𝐯𝐞.
It seems like buyers are just not able to hold some of the key supports when Pfizer announced on Monday night a Covid-19 vaccine breakthrough which is 90% effective.
Most have sold off by more than 10% - 20%. 😬
Joey here, Top Tier Remisier and Trader in Phillip Securities.
A lot of clients have asked me if it is the right time to start buying again on a discount. 👀
I mean prices have tanked by qutie a fair bit and indeed looks quite attractive.
𝐒𝐨 𝐢𝐬 𝐢𝐭 𝐭𝐢𝐦𝐞 𝐭𝐨 𝐁𝐮𝐲 𝐨𝐫 𝐒𝐡𝐨𝐮𝐥𝐝 𝐖𝐞 𝐛𝐞 𝐂𝐚𝐮𝐭𝐢𝐨𝐮𝐬?
Well. I think you would want to take note of some of these key levels that determines if more downside can happen.
Watch this video all the way to the end to find out. >> https://youtu.be/GO-PAugOXZM
After the massive rally since May by more than 100% in some of the medical counters, over the past 2 weeks we have seen 𝐇𝐄𝐀𝐕𝐘 𝐒𝐄𝐋𝐋𝐈𝐍𝐆 coming back.. 😰😰
mainly the glove makers or those with products and services that cater to the medical industry...
There are due to talks about a vaccine being found for Covid19 which may be a 𝐧𝐞𝐠𝐚𝐭𝐢𝐯𝐞 for these companies as their revenue may be hit.. 😷
Joey here, Top Tier Remisier in Phillip Securities.
A lot of clients have asked if the uptrend is over for these medical counters.
Or perhaps if it may be a good time to accumulate on the cheap since they are at discounted prices again..
Well, watched this video recorded 12 Sept 2020 as I dive into 𝐞𝐚𝐜𝐡 𝐨𝐟 𝐭𝐡𝐞 𝟒 𝐩𝐨𝐩𝐮𝐥𝐚𝐫 𝐦𝐞𝐝𝐢𝐜𝐚𝐥 𝐬𝐭𝐨𝐜𝐤𝐬 Riverstone, Top Glove, UG Healthcare, Medtecs, and 𝐁𝐑𝐄𝐀𝐊 𝐈𝐓 𝐃𝐎𝐖𝐍 for you,
I will reveal to you what are the 𝐂𝐑𝐈𝐓𝐈𝐂𝐀𝐋 𝐋𝐄𝐕𝐄𝐋𝐒 where profit taking can come back again and,
more importantly, though we have seen a SLIGHT REBOUND over the past few days, 🙏
why you need to have a plan as more short term weakness may be possible if any of these 𝐊𝐄𝐘 𝐒𝐔𝐏𝐏𝐎𝐑𝐓 levels breaks down further.. 🤦🤦
Watch to the end to see what I mean. >> https://www.facebook.com/tradingimpossible/videos/758376854961385/
Over the past 3 to 4 months, as Covid19 continues to ravage the world, we have seen some of the SG Medical stocks in play.. 😷
Some up by 20 - 30% while others have gradually rising 𝐛𝐲 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟏𝟎𝟎%.. yes, not kidding! 😲
However, over the past few weeks, we started to see some 𝐡𝐞𝐚𝐯𝐲 𝐩𝐫𝐨𝐟𝐢𝐭 𝐭𝐚𝐤𝐢𝐧𝐠 returning.. 😢
So is their upwards trajectory 𝐎𝐕𝐄𝐑?
Joey here, Top Tier Remisier in Phillip Securities.
Well, it depends on which stocks you are still looking at and also more importantly,
if they can hold above some of the 𝐂𝐑𝐈𝐓𝐈𝐂𝐀𝐋 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐥𝐞𝐯𝐞𝐥𝐬 that has started to emerged after the profit taking in Aug. 👀👀
In this video, recorded before the market open on 31 Aug 2020, I will cover just 3 stocks that are still in my Watchlist,
and they are Riverstone, Top Gloves and Medtecs.
Let's dive 𝐃𝐄𝐄𝐏𝐄𝐑 into each one of them to see what are the key levels you want to focus on to see if the uptrend is 𝐢𝐧𝐝𝐞𝐞𝐝 𝐎𝐕𝐄𝐑 or IF,
We can still see more strength in the coming months after the recent sell down.. 🤞
𝐖𝐚𝐭𝐜𝐡 𝐡𝐞𝐫𝐞 >> https://youtu.be/5fzD2P3jj5o
