Saturday, September 14, 2013

Is the tide turning for Wilmar?

In a recent report by UBS, the bank sees growing demand for food. On the other hand, global warming and erratic weather patterns, as well as a slower rate of productivity gains in farming, are likely to constrain farming. If these views are correct, the tide may be turning for Wilmar, Noble, Golden Agri and Olam

Let's look at their charts:

The above is a chart of Golden Agri. Looks weak. I will not touch it.

Noble above looks more promising. There were up days on heavy volumes. Insiders were also buying around 0.80 level. Worth a watch.



Olam (above) looks bearish, with prices looking like they are not done declining yet. Give this a miss.

Wilmar chart:


This counter is breaking out of a base and looks likeliest among the commodity players to challenge its
200-D MA. Once the 200-D MA is successfully taken, then it is deemed to have changed to uptrend. Go Wilmar.

NB: I am vested in Wilmar.




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