Yongnam: Looking forward to further weakness.

I have made an interesting observation with regards to Yongnam's share price.

Do you see it? Supports and resistance levels seem to be at 1.5c intervals. I am looking forward to further weakness so that I could buy more at 23.5c or even 22c per share.

Related post:
Yongnam: The ADR effect.

Wilmar: Conflicting signals and what they could mean.

Wilmar's share price broke resistance at $3.64.

Volume has been declining as price pushed higher. Remember, volume is the fuel that drives rallies. Without rising volume, rallies could eventually sputter and die out. However, Chaikin Money Flow shows that smart money is still flowing into the counter.

The conflicting signals here suggest that Wilmar could do a correction using time and we might not see any hefty price correction. In case a price correction should take place, immediate support is at $3.64 and a stronger support is at $3.53.

The rising 20dMA will intersect the declining 200dMA at some point in the near future to form a golden cross. This suggests that the bulls have the upper hand and that any retracement in share price is likely to attract much buying interest.

It is always dangerous to try looking into the future with technical analysis but let me see if I am clairvoyant. With a healthy dose of patience and with a bit of luck, we could see $4.44 tested in the next two or three months. There. My powers are spent.

Related post:
Wilmar: Testing resistance with strong momentum.