Day 6 - $Wilmar(F34.SG)

My read: Wilmar still looks technically constructive, but today’s pullback took some heat out of a market that had been running well ahead of trend

From my perspective, the key point is that price remains above the gravity line rather than below it. On my chart, the gravity line is a 20-session moving average of closes, which now sits around SGD 3.65 based on the daily series I plotted. That leaves Wilmar only about 1.6% above trend after today’s drop, versus a much more extended position a few sessions ago. I read that as healthy de-stretching, not technical damage. The stock is no longer overextended versus its central trend, but it has not broken trend support either

The near-term tone is therefore positive-neutral. A clean hold above roughly SGD 3.65 keeps the uptrend intact in my view. If buyers reassert control, the recent highs around SGD 3.88 to SGD 3.90 become the first area that matters. If the stock loses the gravity line decisively, I would expect mean reversion risk toward the lower band region around the low SGD 3.30s rather than an immediate collapse.

Net-net, my stance is that Wilmar remains in an upward trend, but the easy momentum phase has cooled. Above the gravity line, I stay constructive. A break below it would shift me from “buy the dip” to “wait for a better reset.”