$F34.SI : Wilmar in bearish territories.



The prospects of Wilmar on the technical chart does not look bright.

1. As of May 9, it has gap down and fall through the kumo support from 3.27 to 3.20

2. The leading kumo is twisted and is showing a downward trend.

3. Long term support is at around $3.


Ichimoku Chart Review : OCBC and Wilmar

Today, I am just going to stray away from the US stocks and briefly discuss about 2 stocks on the Singapore Exchange.

1. Wilmar, in the commodity sector. A darling that has went 3 folds since the lows in 2009. It was also included in the STI Index last year.

2. OCBC. One of the 3 major banks in Singapore and I believe, is part of the STI Index as well.

Commodities STI

Wilmar (F34) : Ichimoku Bullish Signals

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)

  1. Chikou Span cuts the price level with no immediate resistance in sight (until $7)
  2. Price has pierce through the kumo resistance at around $6.45
  3. 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.
  4. 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.