11 May 2012. Wilmar closed at 4.14. We discussed the possibility of having a Bearish 5-0 pattern with a target price of 3.34 - 3.63.12 Jun 2012. We reviewed on Wilmar. It closed at 3.41. Look good with bullish MACD crossover, put a protective stop loss.
14 Jun 2012. Wilmar hit a low of 3.37 are rebound back to 3.80.
25 Jun 2012 onwards. Wilmar range bounded between 3.49 - 3.80. The range bound pattern is clearly reflected on the point and figure chart.
Based on the point and figure chart:
- A congestion is going on. On theory, A move above 3.82 may indicates the possibility of further upside; whereas a move below 3.510 may indicates the possibility of further downside.
- The last known signal is a bullish signal, with the price objective of 3.......