Wilmar: Bottoming up?

Wilmar seems to have bottoming up at $3.40 and reversing the trend now base on 2/5 EMA. Current price is also well supported by 20D SMA. If Wilmar can break the previous high of $3.74, the price target is $3.95 which is the 161.8% Fibonacci Retracement Level. This level also coincides with 50D SMA. Current Wilmar’s chart is only good for very short term trade because the chart pattern is still bearish (50D & 200D SMA are sloping down).

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