Profitable May 2024

In Mar, $Top Glove (BVA.SG)$ bottomed at 0.22 at the 0.215-0.225 support zone. Then, it went on to break out of the downtrend line. It surged from there. The US reported that they will increase tariffs on China medical gloves, syringes to 25% and face masks to 50%. The tariffs on gloves are set to go into force in 2026, while the proposed duties on masks and syringes will take effect in Aug this year. This will make Malaysian gloves more competitive. Top Glove spiked around 30% and peaked at 0.375. A 2-year high. That's a 70.45% gain. $Riverstone (AP4.SG)$ also rose to a 3-year high. Then profit-taking set in. But news of a new wave of Covid-19 in Singapore and globally from a new variant and the increase in hospitalisations kept the price high.

But I didn't buy Top Glove, as I believe $Medtecs Intl (546.SG)$ and $UGHealthcare (8K7.SG)$ will also benefit from the increase in tariffs and may also rise to 2-year highs. I think the profits will be higher than Top Glove's 70.45% gain. So I bought them instead.