Olam: Another Round of Roller Coaster Again!

Olam has been very volatile in recent weeks swinging up and down. Base on current chart, Olam is facing a tough resistance at about $2.515 (which is the down trend resistance line, 50D MA resistanceĀ and also the 61.8% Fibonacci Resistance). Olam will be turning down if the share fails to break this resistance. There was a Deaisen (Bearish Meeting Lines) candlestick pattern, which isĀ a reversal pattern, formed at 50D MA resistance which showed Olam has failed to break the resistance. Looks like $2.00 is the next possible price target in the coming weeks.

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