Wednesday, May 9, 2012

Wilmar decide to go lower?

Wilmar opened at 4.85 today buy end closing at 4.79, our system gave a Short signal today telling us there is chance for this stock to go lower. Entry will be one bid below prior day low 4.77, Timeframe mid term(2weeks +) Stoploss place can place at 4.90. Target?? I drew the parallel channel of this chart, a reasonable target will probably be 4.40 (previous low), follow by 4.00(channel line support)