Wilmar and Olam - call for trading buy

Back to posting after about a month break. After I clear off all my 3 holdings in early Feb. Market continue to rise until very recent fast to see some correction. This may offer some buying opportunity as some corporate results aren't showing good results as expected.

Time for selective trading buy. Some blue chips had fallen to catch my eyes again. Olam and Wilmar are on my list for trading buy. However, one must note that STI or HSI may be consolidation or mild correction mode. Therefore, trade with care for those whom are going to long the market.

Wilmar, fallen from a high of $6.00 to near $5.00. Translating to a near 17% drop in share price in a short 2 weeks. Some analysts said its over reacting to weak result, some expect more correction. Based on chart reading, I still see some weakness ahead before rebounding. Best entry will be somewhere near $4.90 - $4.95 range. However, those whom cant wait can still buy in phases at current price. Remember, do not showhand at this price yet. You may get caught badly... 

Olam, share price also drop about 16% from a high of 2.72 to 2.35. Represent about 15-16% drop too. As you can see, Olam is a very volatile stock. it can easily swing 10cents up or down in a single day. Currently, MACD still turning sign, and RSI also shows oversold. Best bet will be anything near 2.3. Same as Wilmar, buy in 2 phase in case rebound didnt materialise. 

Both call for trading buy now. Good luck.