On Thursday, Wilmar re-test the critical support at $4.97 and closed at $5 with LOW volume of 2.59 million shares traded.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
Both RSI & MACD are flat as MACD lines are converge closely together.
Important Resistance of Wilmar: $5.18
Immediate Support of Wilmar: $4.97
Currently prices resisted by 20/50 days MA.
Since 10/Nov, prices have been consolidation between the key support at $4.97 and key resistance at $5.32.
Although the support at $4.97 has been broken once on 19/Dec but prices managed to recover shortly after that.
Consider buying at $4.97 support if interested. However we would like to warn that prices are forming a lower high and lower low since Nov 11 and this ...
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