Wilmar has not closed above $3 for months, since 22 Sep 2008.
It is different from 18 Sep 2008, as that time Wilmar was on downtrend. Any breakout could be false break.
This time, it is a breakout on short and mid term uptrend.
I think buy on pullback (near support) is a wiser choice for this counter.
Currently, shorting this counter into strength is harder to make money than buying on pullback.
I only realised this when I redraw the chart from scratch.
Price objective (theoretically) likely to be around $3.50.
It is meeting long term downtrend resistant around that zone.
$2.95 should be the biggest support.
The other prices with bigger volumes I will look at are $3.00, $3.8, $3.20, $3.30-$3.35, $3.50 and $3.54
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