$WILMAR INTERNATIONAL LIMITED(F34.SI)$ covered the gap made on 31 oct 22 and rebounded strongly. it had experienced a 14 consecutive day red candle. this is the longest streak of red candles i have encountered. the increased in volume together with the sharp drop in price suggests the peak selling momentum is over and the price is returning to its 20 day moving average. looking at the pnf chart, the price has bounced off the upward trendline (green line) formed by the previous low. crude palm oil prices has also rebounded from the low and is on the second wave up. target price for wilmar is about 4.2.
factors that may result in selling pressure 🛩️ wilmar nabati corruption investigation in Indonesia 🛩️ possible palm oil export ban again to deal with high palm oil prices 🛩️ wilmar's debt usage in high interest environment 🛩️ weak global economy 🛩️ short sellers not giving up with short volume increasing
do apply automatic investment system where you add shares at each 10% drop or at support zones if you know technical analysis. this way you conserve your capital while the stock is strongly downtrending. do take profit at 10% intervals or at resistance zones if you know technical analysis. this way you have capital to buy the dip. only applies to stocks in an index or warren buffett would approve. bon courage.
merci beaucoup @TigerStars for reviewing our posts and @TigerWire for your message.
merci beaucoup @Asphen @LMSunshine @Aqa @Shyon for sharing your analysis.
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- LMSunshine·2023-07-12TOPThanks buddy for the excellent post💵LikeReport
- koolgal·2023-07-10TOPThanks @melson for your excellent analysis on $WILMAR INTERNATIONAL LIMITED(F34.SI)$ Happy to know that the stock is finally rebounding 😍😍😍1Report
- Aqa·2023-07-10TOPThanks for tag. Liked, shared, comment and here to support. Good analysis. Go Top! 👍🏻1Report