On November 13, 2013, Wilmar opened and closed at S$3.47. And, as seen from the chart, Wilmar moved to a high of S$3.65 on the next 4 sessions.
Wilmar also hit a low of S$3.47 on Thursday, November 21, 2013, before closing at S$3.48. The next day, i.e. Friday, November 22, 2013, Wilmar opened 4 cents higher at S$3.52 before closing at S$3.55.
It looks like S$3.47 is a good support in the short-term.
At S$3.55, Wilmar is now once again sitting on the short-term green support line that I had drawn.
I said the following at the TPG Forum on November 21, 2013,
Click on image to enlarge...
Clearly, S$3.55 is a significant level, and in order for Wilmar to move much higher, I would like to see Wilmar staying above the S$3.55 level in the coming sessions.
No comments:
Post a Comment