Top Glove (SGX: BVA) correction and rebound has played out exactly based on our report on 31st August. Based on the recent technicals, we believe that prices will continue to edge higher:
*Timeline of the trade is 4 weeks from the date issued.
*Despite a strong potential for the upside. Should price fails to clear above $3.10 strongly, there is a possible continuation of corrective action which will continue into a double or triple three corrective wave.
Red dotted line = 200 periods Moving average
Blue dotted line = 50 periods Moving average