At least I think so........haha
It has dropped almost 27% from its peak at 5.64 and the price has gone south ever since. By drawing the support line and the channel where the current price is forming, we can exercise slightly more patience before picking up this stock.
This wait could be days or weeks or even months. Meanwhile, you can better deploy your...
Wilmar, the big cap (at least by Singapore's standard) agriculture/soft commodity counter on SGX. This is the only option you have on SGX unless you want exposure to the more manipulated or less diversified businesses like IndoAgri, Bumitama Agri, Golden Agri, etc...
Yet, compared to its US counterparts like Archer Daniel Midland or Bunge Limited, Wilmar is...
Prices are approaching support where we could see a bounce from our buy entry. Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
Wilmar's food business is revolving around agriculture products which includes soy bean crushing, wheat flour milling, crude palm oil in both upstream and downstream sides, & sugar plantation & distribution network.
With all the rising commodities for all these products above with the rising food prices across the world, seems imminent that the upcoming profit...
Price is facing bearish pressure from our first resistance in line with our fibonacci confluence and horizontal swing high resistance where we could see a reversal below this level.
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F34 (Wilmar Int) - SGX - Bullish Prediction
Price is approaching our entry in line with our ascending trend line, 23.6% fibonacci retracement, 61.8% fibonacci extension where we could see a bounce this level.
![F34: [Analysis] Wilmar, consolidating but...](https://s3.tradingview.com/g/g9fM8dBz_mid.png "[Analysis] Wilmar, consolidating but...")
