Wilmar – Palm Oil Stocks Are Down

29th May, 2017, 11:52 PM

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 res, Wilmar

28th July, 2016, 1:43 PM
First Res July 2016
First Res July 2016

First Res had a surge today despite market being down, It broke its mid term downtrend line today and moved up quite nicely. It came as a bit fast so if we’re unable to catch this first up wave then lets wait for either a retracement or when it breaks 1.64 and play a break out trade. Our eventual target would hopefully be 1.785

Wilmar July 2016
Wilmar July 2016

Our dear wilmar played punk with us, it went below 3.05 but recovered at the end of the day. Currently very near the resistance of 3.12 and our stop loss but if you are more generous then perhaps a stop loss of 3.18 could be possible too. Wilmar on the back on a possible bad results is due to report on 11 Aug so we are hoping that it should going back to 3.30 level. If it does we might take another short at it =)

Yours

Humbly

Wilmar

26th July, 2016, 10:04 AM
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Wilmar July 2016

Wilmar, one of the weaker stock for today, the banks rebounded and some of the blue chips closed quite well .  It didn’t manage to rally much in the last few days as we would like(so that we can short at a higher price) and is currently sitting on the 3.05 horizontal support. With that if 3.05 breaks we might see if head down to test 2.96 as the previous low. Our stop loss would be at 3.13.

Yours

Humbly

Wilmar, what now?

20th July, 2016, 2:01 PM
Wilmar July 2016
Wilmar July 2016

WHAT a MASSIVE gap down for wilmar today due to profit warning of 230mil. Wow if you shorted it which we spotted on our blog.

In our previous post we mentioned that the resistance was at 3.37 and stop loss at 3.38 . Well wilmar broke 3.37 and tested 3.38 but came back down after that and didn’t manage to recover ever since which showed a sign of weakness. Congrats if you re short it and now where to for wilmar? It could try to move back up to about 3.24 range which is the next resistance and after that we might see more downside . As the  results are expected to be bad it might be tough for wilmar to rally back to 3.38 level hence we are still looking to short it.

On the other note, STI is coming very close to our target of 2964 off by just 10 points. If momentum is good we might see it come close to 3000 and once there we might be looking for short opportunities. Stay tune =)

Yours

Humbly

 

Wilmar

17th July, 2016, 3:52 PM
wilmar July 2016
wilmar July 2016

Wilmar failed to break the 3.37 horizontal resistance which was the previous gap down area too. Market rallied on friday but Wilamr didn’t couldn’t break this resistance. We might see some near term downside probably back to 3.24 and then 3.17. Our stop loss would be 3.38.

Yours

Humbly

Wilmar

11th February, 2016, 2:45 PM
Wilmar Feb 2016
Wilmar Feb 2016

 

 

Palm oil counters recently had a good run but with market being weak these counters gain might come to a temporary halt. Wilmar has recently hit its resistance of $3 (a round number that market likes) and seems to be turning down. From our chart, we can see that the horizontal resistance coincides with that downtrend line we drew too. If you were to initiate a short u would want to short around $3 area. Currently it closed at $2.95 today, question is is it too late to short now? Well, it all depends on your risk reward level ya. Your stop loss would be around $3.02-3.03. If the stock does come down we’re hoping it comes down to the second downtrend line  at about $2.82 level and if that breaks then maybe $2.70.

The weekend is near =) time to do some homework over the weekend.

 

Yours

Humbly