COMFORT trade ideas
Intraday Glove Stocks using Fast Turtle and FiFT Yesterday Comfort was down 20%, Fast Turtle signal need to advance 20% first before signal a buy..
Therefore, we go down to M5 or M15 to trade high volatility stocks like Comfort and TopGlove.
FAT condition met and Fast Turtle Buy signal appears this morning for quick Hit and Run trade.
Quick Tips :- When FiFT is RED, you can set an alert notification on FiFT with condition FiFT crossing above 0
Swing Trading in line with the TrendGloves remain the trend due to the COVID-19 pandemic.
EP RM1.05 - from the swings, it looks like the next peak will sit between RM6 to RM6.50.
This is also added with the expected quarterly report which would be announced 18 Jun for TOPGLOV and 24 Jun for COMFORT.
Which everyone knows will be very much positive.
Plan to TP all remaining shares between RM6 to RM6.50 and re-enter again between RM4.50 to RM4.80.
Should be able to rally for the remaining of year 2020?Quite strong FA although no longer undervalued, but I managed to get in at a low EP of RM1.05 per share. TA is extremely positive due to the surge in glove demand and the rise of Malaysian traders (both new and hold) trying to take advantage of the situation.
As it is expected that a vaccine for COVID-19 will take 12-18 months to develop, I take an assumption that the pandemic situation should end no earlier than March 2021.
Based on the above, I consider to take profit in batches every month from now until December 2020 (just to be on the conservative side). Leave a small batch (perhaps 10% of initial shareholding) for the price rally til the end of the pandemic.
COMFORT GLOVES Wyckoff Point & Figure TP and Elliot Wave TPWith current Covid-19 yet to reach its end, we suspect Healthcare & its' related services will be a catalyst for the markup on COMFORT.
Evidently seen during 2009 on H1N1 influenza, then quickly flushed down when the virus was subdued.
This time maybe different, but remain cautious due to any covid 19 recovery factors. We shall see.
COMFORT: Potential BuyCurrently trading near the RBS line of 0.845. Buy confirmation if breakout above 0.885. Cutloss if fall below 0.845 with take profit target at 0.935.
COMFORT mencari next resistance?COMFORT- macd dah mula naik ke atas diikuti dengan kemasukan volume yang besar. Next resistance dijangka 0.810
COMFORT GLOVE Isn't its pattern Sexy?According to my analysis, The weekly chart are showing that a Pattern that may be forming is an Inverted Head and Shoulder pattern. It is a reversal pattern. Its only valid once it cross the resistance on RM 0.890 accompanied by a large volume and the the Take Profit can be set on RM 1.00. Entry can be made after the confirmation and set RM 0.890 as the support so cut loss small only. If you enter now, the cut loss will be big due to the support is on RM 0.830....You can use the daily chart for searching when to entry. But, caution needs to be taken as the Stochastic RSI on the weekly chart is showing that it is in an Overbought condition.
Disclaimer: This is not a buy call, it is my opinion only. If you have any ideas that is different from mine please do leave a comment on it.
Hidden Potential Selling in Comfort GlovesComfort Gloves daily chart continue to show weakness. TradeVSA spotted hidden potential selling (Up-Thrust) from Smart Money at resistance level. Notice the gap down from the chart formed a resistance level. Price is likely to break to next support level at RM0.75.
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
