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.

Sunday, March 30, 2008

Olam 280308

Although Olam managed to recover after breaking a few supports on 26 mar, the decreasing volume may indicate that there is still weakness in the recovery.

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Olam would have to break the 2.18 resistance (red --) to show that is has really managed to reverse its downtrend. Looking at the chart, if Olam can continue to trade within the uptrend channel (green), we might see Olam testing 2.18 next week.

For monday :

Support @ 2.00 (low green), 1.985 (mid pink), 1.85 (low pink)
Resistance @ 2.136 (upp red, upp green), 2.18 (red --), 2.215 (blue), 2.292 (upp pink)

Good Luck !!
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