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, July 26, 2008

Olam 250708

After hitting a low of 2.04 on 18 jul, Olam recovered some of its loss this week and is currently trading above the 2.20 support (blue --).

Olam also broke the short term uptrend support (blue) and tested the long term downtrend support (low pink) today. As you can see from the chart, Olam is still quite a long way from it peak of 3.19 on 30 may.

If the 2.20 support (blue --) holds, we could see Olam trading sideways between the 2.20 support and 2.27 resistance (red ...).

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For monday :

Support @ 2.20 (low pink, blue --), 2.16 (green --), 2.14 (low red), 2.09 (red --), 2.07 (low green)
Resistance @ 2.27 (red ...), 2.28 (blue), 2.30 (mid red), 2.33 (mid pink), 2.34 (mid green), 2.36 (green ...)
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