Wilmar (technical)

Wilmar: Trading Central notes the stock has already validated a ST bullish trend after the upside penetration of a MT declining channel. The 20-day simple moving average also reversed up, and crossed above the 50-day one. The daily RSI is displaying strong bullish momentum, but is now in its "overbought" area (above 50%). Therefore, as long as 3.35 is not broken, Trading Central expect further advance to 3.65 and 3.75 after a limited consolidation.