Wilmar

As requested by cas. Wilmar International Limited is a palm oil refiner as well as crushers of copra and palm kernel. The Group also owns sizeable oil palm plantations in Indonesia.

Wilmar became listed after a reverse takeover oof Ezyhealth. Basically how reverse takeover works is that a reverse takeover (RTO), also known as a back door listing, or a reverse merger, is a financial transaction that results in a privately-held company becoming a publicly-held company without going the traditional route of filing a prospectus and undertaking an initial public offering (IPO). Rather, it is accomplished by the shareholders of the private company selling all of their shares in the private company to the public company in exchange for shares of the public company. There are many advantages why private companies would take the RTO route, one of which is the lower cost compared to a straight IPO. While the transaction is technically a takeover of the private company by the public company, it is called a reverse takeover because the public company involved is typically a "shell" (also known as a "blank cheque company", "capital pool company" or "cash shell company") and it typically issues such a large number of shares to acquire the private company that the former shareholders of the private company end up controlling the public company.

From chart, support is at 1.12/1.17, resistance at 1.24. 1.17 is the 38.2% retracement from high of 1.30 to low of .935. On today's close, price rebounded from 1.17. Look for a confirmation sign on tomorrow price action for a reversal play.