Kossan jumps because of Coronavirus - buy now ?

Kossan is also a rubber counter.

Due to the Coronavirus effect, many gloves and rubber stock counter has jumps.

Coronavirus

The stock has jumped from about RM4.20 to about RM5.01

That's a huge gap up.

You can see the huge volume for the stocks for the past few days.


KOSSAN - Gap Up






Technical Indicator: Relative Strength Indicator (RSI)

Looking at the RSI, it is in the overbought zone, as RSI is more than 80.
It is at 84 currently.

It is advisable not to chase the stocks.

The effect may be temporary and may drop back very fast later on.

For those that have bought this counter, may consider taking profit partially.






We hope that those that are infected with the coronavirus will get well soon.


You can also check out the Top Glove latest analysis due to Coronavirus as well here:
https://malaysiainvestment88.blogspot.com/2020/01/top-glove-jumps-because-of-coronavirus.html


Reference:
https://malaysiainvestment88.blogspot.com/2020/01/kossan-jumps-because-of-coronavirus-buy.html


Happy Investing 😇