Wilmar – [ Why It Could Move Higher ]

Chart source: AdvisorXs 16th Feb 2022

Wilmar has seen a move of 7% in just over a week since our alert to our clients. It was Wilmar’s turn to shine as inflation brings a rise in commodity prices and in turn commodity related counters. It is currently at some resistance of around $4.76 and a pullback is healthy. The lower end of this pullback might be around $4.55 before we see another push up. The next upside resistance we might see is around $4.97.

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A reason why Wilmar might continue to see its price trend higher is that it had a long consolidation ever since October hovering around the $4 to $4.40 price range. It has now broken above this resistance and might be challenging the $5 mark in the coming weeks. Also, with inflation , commodity counters tend to perform well too.

As the year starts, fund managers are also looking to load up on quality blue chip to ride this inflation environment.

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Date: 17th feb

Time 8-9pm

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Yours

Humbly

Kelwin & Roy

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