Olam: Drop below 20MA again!

Facebooktwittergoogle_plusredditmail

It is just a flash in the recent Olam’s rebound. After failing to test the wedge resistance at about $2.515 (also the 61.8% Fibonacci Resistance). Olam drops below 20D and 50D MA again. Need to watch whether Olam can still stay within this wedge when the stock price test the wedge resistance at about $2.20. If Olam breaks down from this wedge, the price target is $1.70.

 

Facebooktwittergoogle_plusredditmail

Leave a Comment