Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Saturday, December 15, 2007

Olam 141207

Olam broke through support (blue) @ 2.82 on 13 dec. And it also closed below the downtrend resistance (red dashed).

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On 14 dec, although Olam opened above the downtrend support, there was still a lot of selling which pushed it down to the long term downtrend support (green).

By closing @ 2.68 on 14 dec, Olam broke the previous lows of 2.71 (23 nov), and 2.70 (22 aug). Next support could be @ 2.55 (16 aug low).

For Monday :

Support @ 2.60
Resistance @ 2.68

Good Luck !!
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