Top Glove Corporation Bhd (stock code 7113) Sec: Industrial Products
Current Price – RM5.50
above: Top Glove Daily Chart (click to enlarge)
Chart wise:
Top Glove has from istaged a breakout ts channel. Testing the RM5.50 resistance level, it is supported by the positively inclined daily MACD and RSI. A clean break above RM5.60 is a sign that Top Glove could be finally making an effort to break free from the bearish channel and subsequently chart an uptrend.
Another plus is its rising moving averages, which are providing the trailing support line with current support at RM5.16. A Trading buy.
by Mercury Securities
