Tag: Wilmar

Wilmar Intl Stock Code F34.SGX

Outlook

Price broke above the cloud in the previous trading session in the form of a strong white candlestick. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish trend. Lagging Span is above price of 26 days ago but is below the cloud. MACD is bullish with both its lines above the zero line. MACD is moving higher and hinting of a bullish price trend. We are expecting price to be supported by the cloud and a rally to follow, to the next resistance level at $4.60 in the next 2-3 weeks.

Strategy

$4.40                 Buy

$4.60                 Price Target

$4.29                 Risk Management Stop

3 weeks Trade Duration

Wilmar Stock Code F34.SGX

Outlook
Price reached a high of $5.64 on 19 February 2021 and has gone into a price consolidation since that high. During the correction, price reached a low of $5.23 but had stayed above the cloud, keeping the uptrend intact. The correction has been supported by the upper edge of the cloud with the price lows getting higher as well. Conversion and Base lines had a bullish crossover earlier, hinting of the bullish trend. Lagging Span is above price of 26 days ago as well as above the cloud, confirming the bullish trend. MACD remains bullish after turning up just above the zero line. If price can stay above $5.35, we are expecting price to test $5.64 again.

Strategy                  
$5.43                 Buy
$5.64                 Price Target
$5.33                 Risk Management Stop
3 weeks             Trade Duration

Outlook
Price closed yesterday above the cloud. This could be the start of a new uptrend for price. Conversion and Base lines had a bullish crossover, hinting of a bullish price trend ahead. MACD is bullish and there was bullish crossover earlier. We think price is likely to move higher to test the previous high at $4.74.

Strategy                  
$4.40               Buy
$4.74                 Price Target
$4.27                 Risk Management Stop
3 weeks            Trade Duration

Wilmar Intl. Stock Code F34.SGX

Outlook
Two days ago, price broke below a recent low at $4.22 and this could be the first hint of a resumption of a decline to the previous low at $4.00. Price is currently capped by the Base line below the cloud. Conversion and Base lines had a bearish crossover, confirming the bearish trend. Lagging Span is at price of 26 days ago and is below the cloud at the moment. MACD is bearish and there is a bearish crossover, hinting of a bearish price trend going forward. We think price is likely to decline lower to test the previous low at $4.00.

Strategy
$4.20                 Sell
$4.00                 Price Target
$4.33                 Risk Management Stop
3 weeks Trade Duration