CAREPLS Heading for Down Trend

Nov 18, 2020

Glove counters in Bursa Malaysia have seen the selling pressure since the development of vaccine news. CAREPLS is in much immense pressure since the P/E ratio is at the high side (P/E = 45) as of 18 Nov 2020 compares to the other big counterparts (Topglove, Supermax, Hartalega etc.)

We may see the price to go as low as RM1.90, that becomes the long term support (S1).

Buy if rebounds at S1.

Nov 24, 2020

Trade active

Price action on November 24 confirmed the bearish market for glove counters. Wait patiently until it reaches S1 and rebound.

Remember, you can't beat the market.

Dec 31, 2020

Trade active

It's the last trading day of 2020. Careplus slowly approaches the crucial 1.90 support (S1). Breaking S1 will see further downtrend to 1.60 support (S2).

Do not go in until rebounds at one of these supports.

Happy new year 2021!

Jan 8, 2021

Trade closed: target reached

We saw on the 4th January that CAREPLS reached its lowest point at 1.95, 0.05 short of our target 1.90.

Nevertheless, CAREPLS did rebounce thereafter, breaking to 2.95 on Friday 8th.

If you missed buying from 2-2.30 range, wait until the next pullback.

Good luck!