Olam – [ Starting Of A Rebound? ]

Olam – [ Starting Of A Rebound? ]

Chart Souce : Poemsview (8th Jan 18)

Olam a leading agri-business recently saw its share price fell from a high of 2.47 to $2.

A Base was then formed around there and it showed some sign of a rebound. It broke out of its downtrend line today and shoot up to 2.13.

Our next few possible upside targets might be 2.16 and then 2.2. With a protective stop of 1.99.

Of course of exclusive clients were alerted earlier before  the breakout.

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Yours

Humbly

Kelwin&Roy

OLAM

OLAM Nov 2016
OLAM Nov 2016

Olam, just broke its major $2 support and came down to its $1.945support. The chart looks a little like yoma to us. It has about 2 months consolidation and started to come down.

Friday’s volume was rather huge so its good to take note of it. The horizontal support is at 1.945 and if that breaks we might see it head towards the 200ma at about 1.86 in the coming days.  Stop loss can be placed at 2.02

Yours

Humbly