One of the most hotly traded Singapore-listed companies of late is Sri Trang Agro-Industry Public Company Limited (SGX:NC2), due to the overwhelming demand for rubber gloves in light of the Covid-19 pandemic, where its subsidiary, Sri Trang Gloves (Thailand) Ltd, is the largest glove producer in Thailand and is ranked among the world’s leading glove producers.
This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241 followers.
Disclaimer: Whatever you may read in this post is my sharing for educational purposes only. It does not represent any buy/sell recommendation for the company’s shares. Also, at the time of writing, I am not trading in the shares of Sri Trang Agro.
So, how is the company’s share price going to move in the near-term? In this post, I’ll be sharing with you my technical analysis of the company’s share price movement (on a daily timeframe), which I hope you’ll find useful.
Sri Trang Agro’s Share Price Movements since January 2011
First up, let us look at the company’s share price movements (on a daily timeframe) since January 2011:
Share Price Movements of Sri Trang Agro since January 2011 till Time of Writing (on a Daily Timeframe)
The company’s share price slipped from a high of $1.27 in January 2011 to a low of S$0.40 in April 2016 – a fall by 68.5% over 5 years. Its share price then started to recover thereafter to S$1.00 in January 2017, before dropped back down to S$0.40 in April 2020 before skyrocketing to a high of S$1.75 in July 2020. …