WILMAR: 24 November 2012, Saturday, 1.20pm Singapore Time
Above attached is the Technical Analysis of Wilmar International.
For the entire 2012, I have been extremely bearish of Wilmar, always calling for a SHORT on this stock even before I started the "DONOVAN'S MARKET ANALYSIS" site. However, I am reversing my judgement on Wilmar after its consolidation for 4 months.
Wilmar LONGS is in tally with my BIG MARKET Funds Flow Analysis as big hands are longs in the big markets.
The above YELLOW shaded region represents a consolidation to reverse the trend and attack upwards now. $3.12-$3.15 represents good entry opportunities with stop-loss at just below $3.00.
Upside is as high as $4.68 (1st target) and $5.60 (2nd target) or when Funds Flow Analysis indicates a sell, whichever is earlier.
Overall, Donovan View on Wilmar:
BUY with Cautions
Note:
I am also reversing from Bearish mode into Bullish mode for worldwide markets in the short term now (Indices, Stocks, Big Directions, Euro).