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Wilmar – [ Sitting On Support, Will It Break? ]algo investing.com/wp-content/uploads/2019/05/Wilmar.png” alt=”Wilmar 23rd May 2019″ width=”962″ height=”542″ srcset=”http://algo investing.com/wp-content/uploads/2019/05/Wilmar.png 962w, http://algo investing.com/wp-content/uploads/2019/05/Wilmar-300×169.png 300w, http://algo investing.com/wp-content/uploads/2019/05/Wilmar-768×433.png 768w, http://algo investing.com/wp-content/uploads/2019/05/Wilmar-600×338.png 600w, http://algo investing.com/wp-content/uploads/2019/05/Wilmar-721×406.png 721w” sizes=”(max-width: 962px) 100vw, 962px”>
Chart Source:Poemsview 23rd May 2019
Wilmar reported a good set of results in its recent earnings release which surprisingly didn’t see its price move up much. Could the recent run up in priced in the the results? That might be a possibility. As for now Wilmar sits on our uptrend line support but in a long while has closed below the 50ema.
This might spell trouble for Wilmar if it breaks that uptrend line and closes below it.
We’re watching this closely for a short opportunity.
Is it critical to have a trade plan which includes the entry price, stop loss, profit target in order to ensure that your trade is of good quality. With that then will a trader have confident in entering a trade.
Want to know more about Wilmar? Drop us a message and we’ll be glad to discuss more.
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