Thursday, May 19, 2011

Wilmar

Wilmar: Appears to have rebounded off the btm in mid-Mar. Since then, counter has made higher lows and is on a current higher high, likely the end of its downtrend. Stochastics are in overbought region and Wilmar is currently trading at top of channel with resistance at $5.56. MACD is positive with ADX signifying start of possible uptrend. Counter shld either consolidate or breakout from $5.56. Support at $5.28 and btm of channel $5.00

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