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.

Wednesday, March 26, 2008

Olam 260308

Looking at the chart for Olam, you can see that it broke quite a few support today. With the high volume traded today and a lower closing price, these 2 indicate that Olam has turned bearish.

Photobucket

I've re-drawn the trendlines to reflect the situation now. If Olam fails to hold on to the 2 support (low pink, low red) it is resting on today, we might see it testing the 1.80 level.

For tomorrow :

Support @ 1.90 (low red), 1.885 (low pink), 1.80 (mid red --), 1.655 (low red --)
Resistance @ 2.016 (upp red --), 2.12 (upp red, purple), 2.213 (blue)

Good Luck !!
Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)