Wilmar International Ltd (SGX: F34) robust rebound since mid-March saw price breaking above S$3.80, which invalidated the downtrend beginning in January 2020. Based on the technicals, we are likely to see prices breaking the immediate resistance zone at S$4.22-S$4.29.
*Timeline of the trade should be between 1-3 weeks from the report issue date.
*Should price exhibit a reversal signal at the immediate resistance zone or the resistance level at S$4.38, the next rebound should happen at the S$3.38-S$3.39 price range.
Red dotted line = 200 periods Moving average
Blue dotted line = 50 periods Moving average
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!Featuring regular TA posts and requests to analyse specific stocks