WILMAR (F34) - Opportunity to BUYHey everyone, here's the analysis on Wilmar, if you found this insightful, please like and leave a comment on ideas you would like to see next!
Summary:
As illustrated by the yellow dotted lines, I am expecting a drop in current price to zone 2 at the 3.22 area highlighted in green, before moving higher to our resistance zone between 3.73 - 3.81.
Action:
Buy Limit: 3.22
Stop Loss: 3.00
Take Profit: 3.73
Analysis:
Zone 2 is in line with a key level on the weekly chart and the 38.2% retracement. If current price holds well above zone 2, it could rally to zone 3 highlighted in red, between 3.73 - 3.81. The resistance zone 3 is a key breakout zone, hence we will not play a move beyond that.
Disclaimer: There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. Trading BEAN and all individuals affiliated with this site assume no responsibilities for your trading and investment results. All contents featured here are solely for educational purposes and ARE NOT investment or trading advices. Please do your own due diligence and trade at your own risk.
