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Monday, 4 July 2016

Wilmar International: 4 July 2016, Monday, 7.33am Singapore Time

Wilmar International: 
4 July 2016, Monday, 7.33am Singapore Time

Attached above is the Technical Analysis of Wilmar International, a stock that is listed in the Singapore SGX.

1. Long term breakup
2. High Volume breakup, and any retailers' selling are absorbed by smart monies
3. Ignored Brexit fear. Buy on Brexit fear.
4. Bullish Pink Wedge
5. Currently at confluence of three powerful supports (pink, blue and yellow supports)
6. Expected to rally for the rest of 2016 and 2017.
7. Any red bearish-looking high volume bars that come are actually buys from smart monies (and to shake out retailers, traders and investors who interpret volumes naively)

Donovan Norfolk Technical Rating:
Bullish
Expected to rally for the rest of 2016 and 2017.


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