Wilmar International

I aw this counter from the email my broker sent a few days ago and it mademe curious about its chart. I have not read the content of the email but decided to take a look anyway.

Fig 1 Wilmar Weekly Chart

The counter certainly does not lok promising. First a double top from 2009 to 2011, of course the chart alredy met its minimum objective and from the looks of it then, a bottom formation is in progress.

It hoever started to change, instead an intended double bottom, it has presently forming a descending triangle, yet to break out. From the indicators, it does not look good at all. We should be seeing 2.35 from this counter if break out downward.