Riverstone Long at Major Support
Fundamental Analysis
Upcoming 2 quarters should still deliver record high profits.
High Fair Value price given by Analyst :
1) CGS-CIMB : 2.500
2) DBS-RESEARCH : 2.030
3) RHB INVEST : 2.730
4) UOB KAH HIAN : 2.990
Technical Analysis
I think the right question to ask right now is has Riverstone bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area. I would like to treat Support/Resistance as an Area rather than a Line.
We could see further downside pressure if it breaks therefore cut loss is important. I used Low of the Strong Support 1.06 - 1 ATR (0.07 for the date i drew the graph) = 0.99 (My Stop Loss Point)
Upcoming 2 quarters should still deliver record high profits.
High Fair Value price given by Analyst :
1) CGS-CIMB : 2.500
2) DBS-RESEARCH : 2.030
3) RHB INVEST : 2.730
4) UOB KAH HIAN : 2.990
Technical Analysis
I think the right question to ask right now is has Riverstone bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area. I would like to treat Support/Resistance as an Area rather than a Line.
We could see further downside pressure if it breaks therefore cut loss is important. I used Low of the Strong Support 1.06 - 1 ATR (0.07 for the date i drew the graph) = 0.99 (My Stop Loss Point)
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