Rising wedge triangle seen here with an overbough RSI. Potential sharp correction soon?
Healthcare equipment counters are piping hot nowadays due to the ongoing pandemic. However, there is always a chance that reality may not meet the expectation. Chart wise, hartalega, like most glove counters, it continues to chart high higher highs but it seems to me there may be a short term bearish reversal soon for Hartatelga. Maybe can relook once QR is out.
Healthcare equipment counters are piping hot nowadays due to the ongoing pandemic. However, there is always a chance that reality may not meet the expectation. Chart wise, hartalega, like most glove counters, it continues to chart high higher highs but it seems to me there may be a short term bearish reversal soon for Hartatelga. Maybe can relook once QR is out.
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As predicted, it came crashing down, breaking below the wedge.
Personally, i will stay out of this counter because i) the chart doesnt look as nice as other glove counters, looks like a sharp correction coming soon ii) Last QR was not up to expectation, may lead to a crash again ( just like last QR). iii) Can see some sell down pressure already towards the end of the day.