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 ย 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 toย 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 ย 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