It’s Sunday again. Time truly flies. And on this boring Sunday today, I’ve decided to do another Technical Analysis post on another company that I own – Wilmar. Once again, please pardon me for the poorly done TA.
Pretty much similar to Singtel, Wilmar’s share took a beating and fell from the 3.4 range in November to the recent days where it broke it’s 3.00 mark.
Wilmar’s chart today display a relatively bearish trend.
You can plot your own graph on InvestingNote
The price for Wilmar gapped down on Friday when the market open and Wilmar started trading at 2.97. Shortly after this level of support is tested, the price rebounded back to the 2.99-3.00 range, before finally closing at 3.00.
We can see a small pinch in Bollinger Band somewhere around late Jan. This action suggest that the moving average is constricted and pretty much. volatility increased after the pinch. The price …