Top Glove Corporation Bhd. Stock Forecast
Top Glove Corporation Bhd. stock price up more than 17.95% on Friday
(Updated on May 17, 2024)
The Top Glove Corporation Bhd. stock price gained 17.95% on the last trading day (Friday, 17th May 2024), rising from $0.729 to $0.86. During the last trading day the stock fluctuated 0% from a day low at $0.86 to a day high of $0.86. The price has risen in 5 of the last 10 days and is up by 8.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 629 more shares were traded than the day before. In total, 800 shares were bought and sold for approximately $688.00 .
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.81, a level that may pose a second chance to hit a runner. According to fan-theory $0.93 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TGLVY Signals & Forecast
Mostly positive signals in the chart today. The Top Glove Corporation Bhd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.756 and $0.689. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 29.62%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Top Glove Corporation Bhd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Top Glove Corporation Bhd. stock
Top Glove Corporation Bhd. finds support from accumulated volume at $0.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 5.99%.
Our recommended stop-loss: $0.83 (-3.70%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (TGLVY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Top Glove Corporation Bhd. to open at $0.86, and during the day (based on 14 day Average True Range), to move between $0.81 and $0.91, which gives a possible trading interval of +/-$0.0543 (+/-6.32%) up or down from last closing price. If Top Glove Corporation Bhd. takes out the full calculated possible swing range there will be an estimated 12.64% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.82, some $0.0409 (4.76%) from the current price of $0.86, our system finds the risk reward attractive.
Is Top Glove Corporation Bhd. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Top Glove Corporation Bhd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.438 Strong Buy Candidate Upgraded
Predicted Opening Price for Top Glove Corporation Bhd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.86 ( 0%) | $0.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGLVY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.86 | . | |
| R2 | 0.86 | . | ||
| R1 | 0.86 | . | ||
| Current price: | 0.86 | |||
| Support | S1 | 0.86 | . | |
| S2 | 0.86 | . | ||
| S3 | 0.86 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.86 | |||
| Support | S1 | 0.82 | -4.76% | |
| S2 | 0.670 | -22.09% | ||
| S3 | 0.662 | -22.99% |
TGLVY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2021 | Dec 22, 2021 | Jan 24, 2022 | $0.0110 | 0.529% |
| 2 | Sep 30, 2021 | Sep 30, 2021 | Sep 30, 2021 | $0.0520 | 1.69% |
| 3 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | $0.175 | 2.76% |
| 4 | Mar 22, 2021 | Mar 22, 2021 | Mar 22, 2021 | $0.245 | 4.87% |
| 5 | Dec 24, 2020 | Dec 24, 2020 | Dec 24, 2020 | $0.169 | 2.58% |
FAQ
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