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.
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EVENING STAR for Wilmar! Trend reversal to head south!