Friday, May 19, 2017

Wilmar - Price Reaching Demand Area

One day after I cut loss in Wilmar, the stock sold down another 2 pips to 3.67/3.68. As of now, the stock is slowly drifting away from the resistance high and slowly reaching a demand zone where buyers would look to support the price. For me personally, I prefer to cut loss and move on first and then decide my next course of action as I don't know how low the stock can go. However at this point, I would not short this counter. I am watching the way how it's reaching the demand zone and take action on the next turning point.

Ronald K - Market Psychologist - A Stock Market Opportunist