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Wilmar's momentum oscillators are firing away! They are strongly positive and the stock could go higher even though it has hit resistance provided by the 200d MA.
A correction in price would see strong support at $3.23 while immediate support is at $3.53.
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| Daily chart. |
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| Weekly chart. |
In the event that price action overcomes resistance, the immediate target is provided by the descending 50w MA and I would hazard a guess of $3.81. If that goes, then, it would be the 100w MA at $4.60 but I would be quite surprised if it should happen without at least a pull back in the next few weeks.
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2 comments:
hi AK, any view on Wilmar negative free cash flow? Rely on bank loan to sustain cash.
Hi Ah John,
It will have to see its crushing business recover. That will be the fastest way to see an improvement.
Of course, it has some new business initiatives but those will take time to bear fruits.
Wilmar is my only counter that is in the red. :(
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