Tuesday, February 8, 2011

Wilmar- Swing Short 2

Wilmar close $5.48 with a bearish star candlestick, the previous post on wilmar had a successful swing short! It is now in a oversold position(CCI -100) and hitting 20ma resistance. Can consider swing short with CFD if it show further weakness. Entry: $5.45,
target: 5.26, Exit 5.53(break above prior day high), Timeframe: 3-5days.

Reason of picking this stock (my 2 cents view):
1)downtrend for long time, i think this is one of the weakest stock in SGX, especially among the big cap.
2) Stock announce news yesterday, i suppose it is good news, but stock price is reluctant to run.
3) Stock give up gains during trading hours. Forming the bearish candle!
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