TOPGLOV Short term view : Beware of retrace

A recent price hike in TOPGLOV gives confidence to many long term holder on a rebound.

However, for anyone who are looking for average up their position or try to catch the price up might want to hold on to it first. Because the price movement shows signs of big boys getting ready to cash out fraction of their shares. (Same price & volume action we mentioned in our previous post on HARTA.)

From the price movement on 14th Nov shows the big boys are attracting buyers with high volume while price have little upside or moving sideways. You can view the image below for the 5mins price movement on 14th & 15th November.

tradingview.com/x/Svx6wP6X/

(15th November) Today's intraday price movement starting to show sign of big boys selling shares lower to investors who park at the buy queue.

This is a sign of a short term retracement is on the way. Based on our view, it is better to stay aside & watch how far the retracement will go.

We continue to monitor the timing of the big boys done selling & start a new round of price up later.