For the past few months the Gloves industry is having excessive inventory, so they run on half the capacity increasing the costs, also lowering the sales price. They also have competition from newcomers started during the pandemic.

If we just look at financial reports, Supermax last quarter profit margin is just 5%, and mostly because of earning from the huge cash they have.

Given Top Glove already shows a bad Oct and Nov for glove, We can assume Supermax sales are bad too...

So you can conclude that the earning from operation for the next couple QR will be bad for Supermax, thus if you are looking for the technical, you should expect a high risk of down trend.

Since Supermax is not earning from operation, you can expect you are buying for the cash, which is RM0.70+ after debts, and expecting a reduction on cash in the coming QR.

Unless you are holding for 2year+, it's an expensive buy now. Also this is why the TP is at RM0.30+.

just some open information, and it's good for value investment to spread a down trend analysis (but factual) to push the price down. But gambler probably don't like that haha.

Anyway, day traders can earn on a down trend, we can all earn together.