Wilmar International Limited (SGX: F34) Trading Opportunity

Published On: 12 May 2023, 6.10 PM | Sean Ng, Dealer

Trade Set-up:
  • F34’s share price has seen some recovery recently following its dividend ex-date on 27/04/23.
  • From the chart, the orange, blue and black exponential moving averages (EMAs) represent the 20, 50 and 100 time periods respectively.
  • The moving averages are currently in a downtrend, with the orange 20 EMA recently crossing below both the blue 50 and black 100 EMAs, signaling potential weakness.
  Trade Execution
  • As of 12/05/23 market close, the daily chart above shows that price has retraced to the orange 20 EMA and rebounded slightly off of it.
  •  If the next daily candle breaks above the orange EMA, we can look to take a long trade and take profit at around the $4.03 level, where price opened after the gap.
  •  However, if price breaks below the 12/05/2023 candles low, we can look to enter a short trade and take profit at around the $3.85 level.

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