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Sunday, 17 March 2013

Wilmar International: 17 March 2013, Sunday, 6.10pm Singapore Time

The following Technical Analysis and judgements is an update on Wilmar International 
(refer all past Technical Analysis posts of Wilmar here: http://donovan-ang.blogspot.sg/search/label/Wilmar)

Wilmar International: 17 March 2013, Sunday, 6.10pm Singapore Time

Wilmar had a break up as anticipated beforehand (refer all past posts of Wilmar here: http://donovan-ang.blogspot.sg/search/label/Wilmar). 

The initial break-up (BLUE CIRCLE) was with healthy volume following which it started to decrease and became a volumeless rally. PINK Support of $3.595 breaking down signifies end of its short term rally.

The 3 RED CIRCLES signify warning signs that short-selling may come back on Wilmar and it is better to sideline away from any longs on Wilmar based on Technical Structure above.

Two Immediate Scenarios will form now:

Scenario 1: Dead Cat Bounce to $3.595 before full sell-down to break down BLACK SUPPORT.
Scenario 2: Straight-away break down BLACK SUPPORT mercilessly without any chance given.

When BLACK SUPPORT breaks down, the selling which forces down prices could be fierce.
Given the Technical Posture above in the latest development, I expect BLACK SUPPORT TO BREAK DOWN.

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