Wilmar Intl

Wilmar Intl after hitting the high of 3.75 on 29th April 2016 it had since gone down to trend lower to touch 3.19 on 16th May 2016. This is rather bearish.

The current price of 3.27 is hovering below the SMA lines which is generally quite negative.

Also both Macd & Rsi are still pointing downwards which may be a tell tale sign that the share price may continue to trend lower.

Especially today gap up this morning at $3.34 but closed weaker at 3.27. This show that the share price is generally rather weak.

Short term wise it may go down to re-visit the recent low of 3.19. Breaking down of 3.19 may smell further selling down pressure.The next support level will be $3.00 then 2.90 with extension to 2.77 if 3.19 is being taken down.


(trade base on your own decision)