On Tuesday, Wilmar re-test its critical $5.34 support and closed at $5.34 with HIGH volume of 12.63 million shares traded.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Both RSI & MACD are bearish as RSI already in oversold region.
Important Resistance of Wilmar: $5.50
Immediate Support of Wilmar: $5.34
Currently prices are well below 20/50/100/200 days MA
Wilmar has been very bearish ever since it has planned to go into the property business.
Prices has been going sharply downwards on a falling channel forming a “lower high” and “lower low”
The critical support at $5.34 is expected to be very strong.
If the support were to be breached at high volume, we would suggest considering on cut loss if vested.
Not recommended ...
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