Wilmar – Dropping Near To Our Target

Wilmar – Dropping Near To Our Target

Wilmar June 2017

Wilmar a STI Index stock was a stock we posted back on 29th May on our blog. Slow and Steady the way we like it and down she goes very near to our target of 3.48 now. A nice drop in two weeks. We have shown how we managed a trade and with our target in sight this is when we might consider taking some profit off the table .

Wilmar has also broken the 200ma which is a technically a bad sign and more downside might come. But we will stay vigilant and cover all the shorts if we spot some rebound coming. This can only be judged during the trading day and if you want to know more just contact us here

Yours

Humbly

Kelwin&Roy

Wilmar – Down It Goes

Wilmar – Down It GoesWilmar

Wilmar, a palm oil related stock which we blogged about just a day back came tumbling down today to hit a low of 3.52.

It broke below the horizontal support of 3.60 which we have drawn and went to as low of 3.52. Not bad in a day. But of course we always preach slow and steady. =) Wilmar has been down for a couple of days so do take note of that. Our target still stays at 3.48 but we’ll shift our stop loss lower now to 3.62 level. So worse case if wilmar rebounds we’ll break even.

The support will now be the resistance and we’ll add 1-2pip more just in case. We’re using Poems CFD to short the markets and not doing a naked short.

For those who has been asking how to use CFD to short, stay tune we’ll be calling for a seminar shortly.

Yours

Humbly

Kelwin&Roy

Wilmar – Palm Oil Stocks Are Down

Wilmar – Palm Oil Stocks Are DownWilmar

Wilmar is a palm oil stock that we’re looking at. Palm oil related stocks had some downside today. Stocks like First Res, golden agri and indoagri.

Wilmar tested its 3.60 horizontal support and recovered slightly. We’ll be watching it to see if 3.60 breaks in the coming days in order to consider a short. We’ll be using Poems CFD to open our short position as we would want to swing it down to 3.48 and then 3.43 if possible. Our stop loss would be at 3.69.

Yours

Humbly

Kelwin&Roy

First Resources – Uptrend Intact

First Resources – Uptrend Intact

first Res

First Resources is a palm oil related stock we been mentioning since January and has sinced moved up to the key resistance of $2.02. It has retraced back to the uptrend line and remained above it keeping it nicely intact. We can see that it has recently rebound from the 50 days simple moving average and the uptrend line too.

It has an increased in volume today and with palm oil rising First Resources might stand to benefit. Two things could happen.

  1. It could break out of the horizontal resistance of $2.02 and might move to $2.06 and higher
  2. It could hover here and test the uptrend support line and hopefully breakout of the range

So we’re watching to see if it can breakout and will put a stop loss at  1.96 or 1.94.

Yours

Humbly

Kelwin&Roy