Wilmar bias upside after reaching close to $3 supportWilmar bias upside after reaching close to $3 support.
Showing bullish divergence. Worth nibble
Target around $3.32 - $3.40
F34 trade ideas
Selling in Wilmar International is almost done .....At least I think so........haha
It has dropped almost 27% from its peak at 5.64 and the price has gone south ever since. By drawing the support line and the channel where the current price is forming, we can exercise slightly more patience before picking up this stock.
This wait could be days or weeks or even months. Meanwhile, you can better deploy your capital elsewhere. Again, what suits my style may not be suitable for you since I do not know your investment objective, reason for picking up Wilmar International ,etc.
Please do your own due diligence
[Analysis] Wilmar, consolidating but...Wilmar, the big cap (at least by Singapore's standard) agriculture/soft commodity counter on SGX. This is the only option you have on SGX unless you want exposure to the more manipulated or less diversified businesses like IndoAgri, Bumitama Agri, Golden Agri, etc...
Yet, compared to its US counterparts like Archer Daniel Midland or Bunge Limited, Wilmar is severely underperforming.
4.00 has been a long-term support since Oct 2020 which act as a launchpad for a rally to 5.64
Wilmar rallies from 4.00 again in Dec 2121, but this time, it only reaches 4.89. This is a hit of a lower high.
Since June, the price is now consolidating again at 4.00. Its earning euphoria rally on 05 Aug 2022 was stopped dead in its track. This is not surprising as selling has been seen at 4.20-4.30 as early as May.
This resistance at 4.20-4.30 may be hard to break. Between this resistance and the support at 4.00, this is an extremely narrow range to play. Price may get stuck within this area until the sell side or buy side takes over. 4.00 is the crucial support level if you are looking to buy.
If the price breaks down below 4.00, bulls should be careful.
If you want to play soft commodities, US have better options and they perform better
F34.SGX_Range Breakout Trade_ShortENTRY: 4.63
SL: 4.88
TP: 4.38
- ADX>20
- RSI<50,RSI<30
- Daily RS -ve
- Daily FFI -ve
- Daily MACD -ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD -ve
- Breakout with high volume
Wilmar is facing bearish pressure, potential reversalPrices are facing bearish pressure from our descending trend line where we could see a further downside below this level.
Wilmar is facing bullish pressure, potential for further upside Prices are facing bullish pressure from our ascending trend line where we could see a further upside above this level.
Wilmar is approaching support, potential bounce Prices are approaching support where we could see a bounce from our buy entry. Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
WILMAR- Super Bullish Trend Coming ?
Wilmar's food business is revolving around agriculture products which includes soy bean crushing, wheat flour milling, crude palm oil in both upstream and downstream sides, & sugar plantation & distribution network.
With all the rising commodities for all these products above with the rising food prices across the world, seems imminent that the upcoming profit going to be fantastic.
not surprise super bullish cycle is brewing for agriculture products commodities and this should drive Wilmar profit and share price high up .
Wilmar is facing bearish pressurePrice is facing bearish pressure from our first resistance in line with our fibonacci confluence and horizontal swing high resistance where we could see a reversal below this level.
F34 (Wilmar Int) - SGX - Bullish PredictionHumbled, we would like to thanks for your support who has already liked, commented and followed us.
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F34 (Wilmar Int) - SGX - Bullish Prediction
Wilmar is approaching resistance, potential reversal Price is facing bearish pressure from our descending trend line and 61.8% fibonacci retracement where we could see a further drop below this level.
Key levels to watch on Wilmar Price is approaching our entry in line with our ascending trend line, 23.6% fibonacci retracement, 61.8% fibonacci extension where we could see a bounce this level.
Key levels to watch on WilmarThese are the key levels to watch on Wilmar, currently, prices are testing support where we could see a bounce here
Wilmar is approaching resistance, potential reversal Price is approaching our resistance where we could see a reversal below this level.
Wilmar is approaching support, potential bounceA test of our buy entry could see a further bounce above this level to our take profit target.
Riding on the China Wave I recently took a small position in this company after having missed a good entry at 3.40 some months back.........
Read this article here
If you understand the Chinese food culture, you would then know that cooking oil is a necessary ingredient in many cuisines. What's not to like, it has a reputable brand name that many households are using (another sticky point that I like).
4.37 is a relatively strong support and yesterday plunge was a good entry for those who are keen to consider going long.
Wilmar (F34.SI) Long 1. Recent pull back is a great discount.
2. TP 4.64
aggresive can consider 4.75 (covering gap)
STI Wilmar F34 seeks $4.54 to resume uptrendWilmar resumed its uptrend LT in July 2019.
Multiple buy signals MT and ST were issued on 270720 and 250920 @$4.41-$4.46
PIVOT : $4.54
Buy at the break and hold above $4.54
Target ATH of $7.29
Stop Loss $4.36
A break of $4.36 will negate the ST buy signal and test $4.04
Wilmar - Half Empty or Half Full?Wilamr gapped down a hefty 10% after a major shareholder announced that it was planning to pare it's stake amounting to about 2.68% of the issued share capital (a large sum of about $500m). It traded as low as 4.31 before rebouding a little to about 4.37 now.
There are a confluence of 3 supports between 4.35-4.38 region (a horizontal support, trendline support as well as 50% fib retacement here). Could be worthwhile to test some longs here for an eventual rise to 4.75 (gap fill). Initial Stop Loss @ 4.29. Should we get stopped out, I will relook it as it approaches the 61% fib retracement level @ 4.20.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Wilmar under bearish pressurePrice is facing bearish pressure where we could see a further drop below this level.
