In the last session, Wilmar's share price touched a new low of $3.18. Many market participants are wondering if they should go long here. Of course, conventional wisdom would say wait for the sellers to be done selling. So, are the sellers done selling? The OBV shows that distribution activity has not ceased. However, both MFI and MACD have not formed lower lows as compared to May 2012 when share price was higher but declining. Together, the technicals tell me that there are still sellers around but demand has picked up if only barely so. Technically very weak, we could see lower prices for Wilmar's shares if the current floor fails to hold. Immediate support is at $3.18 while immediate resistance is at $3.54. Although we could hope for a gap fill at $4.65 which is also where we find the declining 200dMA, that is a long shot and unlikely ......