If I am to view Wilmar's bull campaign, i believe it is still on the uptrend where the real sellers have not appeared yet. Based on the closing price for Wilmar today, there were volume churning, however the price was not dipping much and this to me was a bullish symptom. Sellers were trying to drive prices down south but did not succeed.
For Wilmar to break through the resistance at 5.52, evidence of volume churning, accumulation, panic selling, strong buying would need to appear when it dipped, not when it break through the resistance at 5.52. When either of those intangibles appear, i will then look to long this stock. Of course, there is still a possibility that major sellers may emerge which would then negate all the bullish preparation.
Ronald K
