Wilmar International Limited (SGX:F34) Q2 Profit Of US$60.2Mil

Wilmar International Limited (SGX:F34) Q2 Profit Of US$60.2Mil

Wilmar International Limited (SGX:F34) Q2 Profit Of US$60.2Mil

  • Agri-business group Wilmar International has returned to the black in the second quarter ended June 30, 2017, with a net profit of US$60.2 million.
  • This marks a significant reversal from its net loss of US$220.1 million in the same period a year earlier – thanks largely to higher non-operating gains arising from the group’s investment securities, Wilmar said in a statement on Thursday (Aug 10).
  • Core net profit was US$37.3 million, compared with a core net loss of US$220.3 million previously. The improvement was driven by recovery in the oilseeds and grains business from the one-off losses in the second quarter last year, though partially offset by weaker performances in the tropical oils and sugar businesses.

Wilmar International Limited is a Singapore-based agribusiness company. The Company’s business activities include oil palm cultivation, oilseed crushing, edible oils refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleo chemicals, biodiesel and fertilizers, as well as rice and flour milling. Its segments include Tropical Oils (Plantation, Manufacturing & Merchandising); Oilseeds & Grains (Manufacturing & Consumer Products); Sugar (Milling, Merchandising, Refining & Consumer Products), and Others. It produces nitrogen, phosphorus and potassium (NPK) compound fertilizers and is also engaged in the merchandising of straight fertilizers, such as potash, phosphate and nitrogen, and trace element products. It is engaged in the processing, refining, merchandising and distribution of oilseeds products, such as soybean oil and meal, sunflower seed oil and meal, cottonseed oil and meal, canola oil and meal, peanut oil and meal, and corn.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 3.33.

The projected lower bound is: 3.05.

The projected closing price is: 3.19.

WILMAR INTL closed down -0.220 at 3.200. Volume was 266% above average (trending) and Bollinger Bands were 15% narrower than normal.

Open       High       Low         Close       Volume
3.250      3.280      3.190      3.200       25,327,400

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period       50-period      200-period
Close:                       3.37                 3.41                 3.56
Volatility:                43                    26                    27
Volume:                   6,534,370      6,335,142       6,891,914

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

WILMAR INTL gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
WILMAR INTL is currently 10.2% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of WLIL.SI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on WLIL.SI and have had this outlook for the last 6 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 30.2326. This is not an overbought or oversold reading. The last signal was a sell 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 32.47. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 27 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -215.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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