CAREPLS - Consolidate But WIll Gradually Crawl Back To RM4.34

General market sentiment is bearish towards glove stocks. While it is true there is no momentum on glove stocks recently, Carepls chart has not shown clear sign of bearishness of downward trend yet based on past 3.5 months period. There are no lower high and lower low trends on Carepls price chart yet. To be more specific, Carepls prices are moving in sideway and in consolidation mode.

Based on Elliott wave analysis, the price might consolidate in complex wave structures. The prediction is Carepls might reverse its recent downtrend movements to gradually crawl back to ballpark value of RM4.34 (or higher) as part of smaller degree wave C to complete its rebounding trend before turning downward movements again for further consolidation.

This is for sharing purpose, and is not a call to buy or sell purpose.

HAPPY TRADING!