Olam has started a down trend after breaking out from a Symmetrical Triangle with price target of $1.68. Olam support & resistance fit quite well to Fibonacci Retracement Level. It is too late to short at current level now (about $1.76). The plan is to wait for rebound to near to$1.83 (50% FR) or $1.90 level (61.8% FR) to short the stock again.
Olam: Breakdown from Symmetrical Triangle
- Post author:Marubozu
- Post published:November 14, 2012
- Post category:Olam
- Post comments:0 Comments
Tags: Symmetrical Triangle