F34 trade ideas
Wilmar breakout from Rounding bottom with VolumeCompleted a rounding bottom pattern.
Breakout with volume.
Potential Rounding bottom first target 5.3
Wilmar testing resistance, potential reversalPrice is testing our resistance in line with our 61.8% extension and 78.6% retracement where we could see a reversal below this level to our take profit target.
Wilmar facing bearish pressurePrice is facing bearish pressure from our resistance in line with our 127.2% fibonacci retracement and fibonacci extension and a re-test of our sell entry could present a good opportunity for a short.
Consolidating before the breakout?Nice cup and handle or Bullish Pennant being formed. Wait for upside breakout.
Disclaimer: Not an advice to buy or sell.
SGX Wilmar Longstock is on an uptrend and with 1Q earnings reporting robust revenue growth, likely to continue upwards trend. It has also breach resistance line @ 3.60. Potential to long @ entry $3.67 with stop-loss @3.59 below new support line and profit-taking @ 4.05
Wilmar sell down after wave 4The strong sell down March 2020 has confirmed the bearish impulse of the 5 wave structure. Based on the Technical, we believe that the stock bullish correction is coming to an end:
1. Rising wedge formation below 50% Fibonacci retracement level indicate a strong signal to sell.
2. Evening star formation below the 50% Fibonacci retracement level indicate the start of a bearish sell down. Looking closer, the cluster of candles with the evening star formation indicate a weakness when all three candles fails to break the recent top at 3.48.
3. Elliott wave (iv) complied with the theory’s rule, whereby price should display a reversal at the 50% retracement of wave (iii).
4. Prices has been trending below the 200 and 50 Moving averages. On top of that, the 50 moving average crosses below the 200 moving average has formed a death cross and it is still valid.
5. RSI indicate a bearish divergence.
WILMAR (F34) - Opportunity to BUYHey everyone, here's the analysis on Wilmar, if you found this insightful, please like and leave a comment on ideas you would like to see next!
Summary:
As illustrated by the yellow dotted lines, I am expecting a drop in current price to zone 2 at the 3.22 area highlighted in green, before moving higher to our resistance zone between 3.73 - 3.81.
Action:
Buy Limit: 3.22
Stop Loss: 3.00
Take Profit: 3.73
Analysis:
Zone 2 is in line with a key level on the weekly chart and the 38.2% retracement. If current price holds well above zone 2, it could rally to zone 3 highlighted in red, between 3.73 - 3.81. The resistance zone 3 is a key breakout zone, hence we will not play a move beyond that.
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50% nice retracement on Wilmar .. LONG tradewith the rise in Palm Oil futures, Wilmar is likely to follow suit.
Wilmar International channel formation Stock Wilmar international trading in tight channel range from 3.00 to 3.30.
As per price pattern and candlestick analysis stock can side further to test level of 3.00 where lower end of channel act as support .
Closing below 3.00 with volume can open down side in stock.
Wilmar International Bullish Rev H&S Breakout Targeting $3.32Following Global Commodities Bullish Trend...
Day 1 of 8 & 21 DMA Buy Signal
Bullish Break of Rev H&S Neckline targeting $3.32
