source: trading view
Chart 1: Riverstone Weekly Chart
The financial results of Riverstone for 1Q23 showed a decrease in revenue and gross profit margin compared to 1Q22 due to various macroeconomic factors. However, the balance sheet remains strong with a significant net cash position (Cash In Hand SGD0.2011 per share - source: shareinvestor com).
Riverstone plans to focus on customized products (cleanroom gloves and specialty healthcare gloves) to maintain its market position. From a fundamental perspective, there is a neutral outlook for Riverstone, but there may be opportunities for technical rebounds. Potential support at the 0.560 level.
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