$Wilmar International (F34.SI) Drops -3.22%: Palm Oil Giant Retests SGD 3.00 Support, Dividend Yi...

📊 Market Recap

As of November 2, 2026, 'F34.SI' closed at SGD 3.01, down -3.22% with a trading range of SGD 3.00 - 3.11 and volume of 13.01 million shares (Volume Ratio 2.07). The stock is now testing the SGD 3.00 psychological support, sitting just 3.8% above its 52-week low of SGD 2.90 and 23.8% below its 52-week high of SGD 3.95.

🚀 Key Drivers

Capital Flow Shift: 5-day capital flow turned sharply negative at -632.01 units on 10-29 after four consecutive positive days, signaling short-term distribution pressure.
Valuation Contrast: P/B ratio of 0.66 and P/S of 0.19 suggest deep value pricing, while P/E TTM stands at 10.20 with a dividend yield of 4.93% attracting income investors.
Shareholder Stability: The Kuok Group maintains a dominant 27.08% stake with zero changes, providing long-term structural stability despite short-term price weakness.

🎯 Price Outlook

Short-Term Upside/Downside Probability

Direction	Probability	Price Range	Change
Upside	45%	3.05 – 3.15	+1% ~ +5%
Downside	55%	2.90 – 3.00	-1% ~ -5%

Medium-Term Upside/Downside Probability

Direction	Probability	Price Range	Change
Upside	50%	3.15 – 3.40	+5% ~ +13%
Downside	50%	2.80 – 2.95	-2% ~ -7%

Key Price Ranges

Type	Price
Short-Term Resistance	3.11 / 3.20
Short-Term Support	3.00 / 2.90
Strong Support Zone	2.80

(The above forecast results are generated by AI, for reference only, and do not constitute any form of investment advice, trading guidance, or return commitment)

1. Technical Analysis 📈

Volume: Total trading value reached SGD 39.40 million with a volume ratio of 2.07, indicating significantly elevated activity compared to recent sessions as sellers dominated near the SGD 3.00 level.

MACD: Historical MACD data is currently unavailable for this session; however, the -3.22% daily decline with expanded volume suggests bearish momentum is accelerating in the near term.

RSI: RSI values are not available in the current data feed; based on the sharp pullback from SGD 3.11 to 3.01, the 6-day RSI is likely retreating toward neutral-to-oversold territory after failing to sustain upside momentum.

2. Key Price Levels 🎯

Primary Support: SGD 2.90 (52-week low), a break below this level would confirm a medium-term downtrend and trigger further liquidation.

Strong Resistance: SGD 3.20 (recent consolidation zone), must be reclaimed before any bullish reversal scenario gains credibility.

Immediate Pivot: SGD 3.00 (psychological round number and intraday low), serving as the current battle line between buyers and sellers.

3. Valuation Perspective 💰

P/E TTM stands at 10.20, well below historical average and industry norms, while P/B ratio of 0.66 indicates the stock trades at a 34% discount to book value. P/S ratio of 0.19 further reinforces the deep-value characterization. Dividend yield of 4.93% provides substantial downside cushion for long-term income-focused investors.

4. Analyst Targets 🎯

Institutional coverage data is limited; however, the shareholder structure reveals strong long-term conviction among strategic holders, with The Kuok Group (27.08%), Archer-Daniels-Midland Company (22.49%), and Kerry Group Limited (6.91%) all maintaining zero changes, suggesting these anchor investors view current levels as long-term accumulation opportunities despite short-term technical weakness.

5. Weekly Outlook 🔮

Expect continued testing of the SGD 3.00 psychological support in the coming week, with a likely trading range of SGD 2.95 - 3.15. A decisive break below SGD 2.95 opens the path toward SGD 2.80; conversely, a strong rebound above SGD 3.15 could trigger short covering toward SGD 3.30.

Key events to monitor:

Global palm oil price movements and CPO supply-demand dynamics, which directly impact Wilmar's plantation segment margins.
Upcoming food commodity inflation data from major export markets including China and India.
Any corporate announcements regarding capital expenditure or strategic partnerships in their food processing and distribution divisions.

Risk Disclaimer ⚠️

This content is for informational purposes only and does not constitute investment advice. Stock market investments carry inherent risks. The forecast probabilities and price targets are AI-generated estimates based on technical and fundamental data and should not be relied upon as the sole basis for any investment decision. Please conduct your own research or consult a qualified financial advisor before trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.