TOPGLOV
Added 2023-04-10 19:43:14 +0000 UTCGood lesson here, this is a set up that can catch people out, it appears that is set up for both the impulse and corrective counts, and it is what we would be looking for with an impulse wave set up but what has caught my eye is the white oval I have highlighted, this was a parabolic move with no pull back, after it does eventually pull back after hitting the blue line, it pulls back quite shallow, this leads me to believe that this is more likely to be an ABC count than an impulse wave.
Especially after reporting 3 negative earnings in a row.
I could be wrong here but this set up is something I would be cautious about. Holding above the middle blue line is what bulls want to see.
Comments
The largest glove producer in the world made billions due to COVID but in the last 2-3 years it was the most hated/feared/shorted stock as it came crashing below precovid prices due to oversupply of gloves in the market. Demand may start to swing back soon with a whiplash effect.
FD
2023-04-11 01:08:53 +0000 UTC
