Sunday, March 20, 2011

Will Wilmar hold @ its support (5.0)

Supported by 5.0 for 2 occasions (25 feb & 18feb)
Resisted by 5.35 followed by 5.45 (fibo 23.6%)
Down-trend and currently resisted by 20day MA
Volume increasing and price decreasing.
MACD cross down currently.

Wilmar able to bounce from5.0 support and need to break 5.35 which
is double bottom neckline with high volume and nest target is 5.72 (fibo 38.2).
I am able to grab on 18Mar @day low of 5.0 (2 lots). Hope can bounce back from here. :P