Wilmar International - My Stocks Investing

Wilmar International: Testing an Important Resistance

Post author:Marubozu
Post published:October 17, 2010

Wilmar is testing an important resistance for the 3rd time at about $6.45. Do take note that this level proves to a strong and tough resistance to be broken for the past few occasions. Coincidently this level is also very near to the current 200D MA, and also the resistance of a potential Ascending Triangle pattern. If this $6.45 is broken, the next immediate resistance is at $7.00. Else, Wilmar will reverse the trend with the immediate support at about $6.044 (78.6% Fibonacci Retracement Level).

Wilmar: Forming a New Up Trend?

Post author:Marubozu
Post published:July 25, 2010

Wilmar looks like forming a new up trend after showing a good support up trend line. A potential higher high may be formed when Wilmar faces the 200D MA resistance at about $6.40. A good entry point is between $5.90 to $6.00 when Wilmar retraces back to the uptrend support line.

Wilmar – Looks Attractive

Post author:Marubozu
Post published:May 31, 2010

Wilmar’s current price looks attractive currently after a huge gap down due to tax accounting issue.

The current level may not be a good entry level for trading because there is a risk of forming evening star candlesticks pattern and may send Wilmar to $5.10 (61.8% Fibonacci Retracement Level).

Immediate support $5.76 which is a gap support.
Immediate resisatnce at about $6.00 which is 78.6% Fibonacci Retracement Level.