On Tuesday, Wilmar re-tests the support at $3.01 and closed at $3.01 with HIGH volume of 20.4 million shares traded.

Both RSI & MACD are bearish though RSI at oversold region.

Important Resistance of Wilmar: $3.16

Immediate Support of Wilmar: $3.01

Currently prices are resisted by 20 days MA at $3.16.

Today Wilmar undergo heavy selling pressure as bears attempted to sell the stock off the support.

The support at $3.01 is expected to be strong.

We would not suggest into long Wilmar as the prices have been trending downwards forming a lower high and lower low since 27/Jul/2012. Shorting the stock would be a better idea.

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