Wilmar just had a few bullish signs aligned on the Ichimoku Daily Chart.
Currently, it is trading at 6.56 (bear this in mind when reading the chart below)
- Chikou Span cuts the price level with no immediate resistance in sight (until $7)
- Price has pierce through the kumo resistance at around $6.45
- A small minus point is the Tenkan sen and Kijun sen does not seems to have cut each other upwards yet. It is still fairly flat.
- Broader market concerns. SPX will be hitting 1100 resistance soon. Will it turns? Wilmar may be releasing its results soon (Nov 12), so this could be a push before earnings.