Wilmar

trendtrader,

Wilmar's downside is more than upside. Those bears who had shorted Wilmar earlier were forced to cover their shorts due to company share-buy-back, that's why the chart has an island top pattern (bearish reversal). The range trading of 0.30 (bet. 3.00 to 3.30) is valid only if the company share-buy-back is consistent, like Olam. As the company share-buy-back is not aggressive with heavy volume, it's a clear signal that Wilmar's share price at 3.00 may not be able to hold once the next qtr's earnings results is below expectation or co. reports a loss.

 

Wilmar - Island Top


Wilmar closed with an inverted hammer @ 3.12 (-0.02, -0.6%) on 9 Oct 2012.

Critical support @ 3.00 once broken, Wilmar is an outright SELL

 

Wilmar - Critical support @ 3.00 once broken, Wilmar is an outright SELL

Wilmar closed unchanged @ 3.16 on 5 Oct 2012.

 

Wilmar - Critical support @ 3.00 once broken, Wilmar is an outright SELL

BMD Crude Palm Oil (CPO) Last 1.1% Lower at MYR2,230/Ton, Lowest Since November 2009

Wilmar closed @ 3.20 (-0.01, -0.3%) on 2 Oct 2012.

Resistance 3.43, critical support 3.00.

If Wilmar's long term horizontal support @ 3.00 is broken convincingly with exceptional high volume:

1. Interim support 2.80,

2. Next support 2.60, the price projection of a bearish descending triangle breakout. (ref. monthly chart).

3. Strong support 2.20, the long-term horizontal support.

 

BMD Crude Palm Oil (CPO) Dips; Slowing Exports, Supply Cues Weigh

Wilmar - Moving in lockstep with PPB



View attachment 7508

View attachment 7513

View attachment 7587

View attachment 7588

 

trendtrader,

If Wilmar's support @ 3.00 is broken convincingly with exceptional high volume:

1. Interim support 2.80,

2. Next support 2.60, the price projection of a bearish descending triangle breakout (ref. chart below).

3. Strong support 2.20, the long-term horizontal support.

View attachment 7513

 

Wilmar - Bollinger squeeze

Critical support @ 3.00 once broken, Wilmar is an outright SELL.

View attachment 7508

 

Wilmar - Critical support @ 3.00 once broken, Wilmar is an outright SELL

 

PPB's share price had been impacted by the weak performance of its 18.3% associate Wilmar, which is the largest earnings contributor.

Wilmar vs PPB

Wilmar - Bollinger Squeeze, expect more downside

If the long-term critical support at 3.00 is broken convincingly with high volume, Wilmar is an outright SELL.

Wilmar TP: 2.20
PPB TP : 12.10

 

Wilmar - Bollinger Squeeze, expect more downside

If the long-term critical support at 3.00 is broken convincingly with high volume, Wilmar is an outright SELL.

 

Now my turn to update....
(will only learn if dare to try and let experts help me improve)



Wilmar... another swee swee fibonacci stock...
see how swee it looks.... my 0% at 5.97 (shooting star on 1st Aug)
100% at 4.99... roughly the support
and zhun zhun hit target 161.8% 4.38...

Right now.. I can tell you that the stock has strong resistance at 5.30-5.36
I have been waiting for it to hit 5.30+ the last week to T... but it didn't manage to get that high... The 200ma and 100ma line at 5.30 looks like strong resistance.

personally.. it looks likely to retest $5.
Palm oil counters have been weak...

 

Some food for thought.

What do you do when a stock gives you signals like these?

:crazy:

 

I still use paper and ruler hor. Those charts only generated every now and then. For realtime action, I still use paper and ruler on screen....

But whole market like gonna open up. In that case, likely invalidated liaoz...:eek6:

 

Exiga kor, looks like u hv moved beyond your pencil and ruler daysfftopic::thumbup1:

 

Another potential shorting target....

On the 30mins, the 10day MA is just about to cut down on the 20day MA. It also ended below that level, which infers that the downside will likely persist and it should cut down thereafter on opening....If so, probably cover the gap at 4.66-4.67, or around the 50day MA line support...:idea3:


On the Daily, it had a long trailing Doji star...Requires confirmation, but I guess any close below the gap will infer more downside to the lower range of the long red candle, as the interim uptrend rebound would have broken as well....:willy_nilly::yikes: