Yesterday, November 14, 2013, Wilmar traded between S$3.48 and S$3.56 before closing EXACTLY at the resistance of S$3.55 with a volume of 14.5 million.
As seen from the chart, the 50-day moving average (in blue) has made a cut above the 200-day moving average (in red), just as I had hoped to see.
I have said on October 23, 2013 that I showed my father the Daily chart of Wilmar and told him to expect a huge run up in the share price if and when we do see both the 50-day MA (in blue) and the 100-day MA (in grey) cut above the 200-day MA (in red).
The last time when both the 50-day MA (in blue) and the 100-day MA (in grey) cut above the 200-day MA (in red) was in early 2009. I have reproduced the chart for that period to give you a bigger picture of what I was talking about.
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